Congratulations! You just got your hands on one of the most extensively customizable themes available for Buddypress. Now what do you do with it?
Let’s get it installed first, then go on to enable some features.
After purchasing and downloading BuddyBuilder (you can get it here), extract the contents of the zip folder to the directory of your choice on your computer. Then upload the ‘buddybuilder’ folder to your ‘wp-content/themes’ folder.
To activate the theme in a single-site install, simply select the theme under ‘Appearance > Themes’ in your WordPress backend. If your install is Multisite, you will need to enable the theme first under ‘Super Admin’.
You will see a new link at the bottom of your backend sidebar: ‘BuddyBuilder’. Click that link.
The next page you see will be titled: ‘BuddyBuilder Theme Construction Zone’ – you don’t need a hardhat though 
Just under the title is a red message saying: Click ‘Save Settings’ to call the default stylesheet upon initial installation, or after clicking ‘Reset’. This is important ‘cuz clicking ‘Reset’ erases all settings from the theme tables in your database; ‘Save Settings’ must be clicked to restore the default settings. Go ahead and click ‘Save Settings’ now.
Now, take some time to explore the available features, options and settings under each of the tabs (you know you want to). Experiment, play around, and customize only what you want. Everything else will reflect the default values of the base stylesheet. You do not need to type ‘px’ when specifying sizes as that is already in the code. Likewise, the ‘#’ sign is not required for colors (you can also specify colors as ‘transparent’). Your changes will appear in the Preview Pane at the top of the screen each time you click ‘Save Settings’.
Now let’s set up the homepage and a custom menu.
First, create a WordPress page under ‘Pages’ > ‘Add New’ and assign it the ‘BuddyBuilder Front Page’ template under ‘Page Attributes’. The title you give this page will appear on your homepage if you enable the ‘Show Home Page Title and Content?’ feature under the ‘Homepage’ tab.
Now create another page with the default template for your blog posts. Note that the title of this page will not appear on your blog page.
Go to WordPress ‘Settings’ > ‘Reading’ and check ‘Front page displays’. Select the 1st page you just made as your Front Page, and the 2nd as your Posts Page.
Now go to ‘Appearance’ > ‘Menus’. (If you have no custom menus yet, create one now). Select any menu in the ‘Theme Locations’ panel. Click ‘Save’, then click ‘Save Menu’. Come back to BuddyBuilder and click ‘Save Settings’. Your selected custom menu should now appear the way you set it up. Note that top-level items in your custom menu will appear as main menu items in your theme, while lower-level items will display as sub-menus.
You can get help at any time by posting in the BuddyBuilder forum.
Have fun! 