BuddyPress.org

Try asking this question on the plugin’s support page:

BuddyMobile

How are you trying to delete the buddypress folder?

You shouldn’t modify the original plugin files.

You can find all of the templates in a buddypress folder here: bp-templates/bp-legacy.

Step 1. Copy the buddypress folder to your theme. You should then have something that looks like this: wp-content/themes/your-theme/buddypress
Step 2. Edit the files inside the buddypress folder.

Which template are you referring to in 1.?

Check out the Template Hierarchy article. The file you’d need to copy and then modify is buddypress/members/members-loop.php.

can both code snippets be placed either in functions.php or bp-custom.php?

2 can but 1 isn’t a code snippet (you’re copying and then modifying a file).

The file path should be wp-content/plugins/bp-custom.php. If that doesn’t work for you then there’s likely a problem elsewhere.