The error “The image could not be loaded.” and post text wrapping image problem - I suppose there are many ways to solve this problem, but I just remove line 686-801 in global.js in folder js, and the problem goes away.
Add an Adsense 468x60 banner ad at the top right corner - Edit header-1.php in folder templates/header, comment out line 36-37, add the Adsense code after line 35. To make the ad looking better, I put the ad code inside a <div style='float:right; margin-top:14px;'> </div>
Remove the orange message "Navigation Menu can be added in Appearances -> Menu" at the bottom right corner - If you don't use a menu at that location, an error message will appear. Edit footer-bottom.php in folder templates/footer, comment out line 19-28.
Remove comments number, likes number, and author box in blog post - Edit blog-single-1.php in folder templates/blog, comment out line 28-29, and 43. Edit htmlPrinterPost.php in folder printers, comment out line 104-112.
Remove comments number in the front page - Edit recentPosts.php in folder visualComposer, comment out line 87.
That's about it for now. Obviously, you can do a lot of modifications to set it up the way you like it. Overall, the theme is getting better and better, e.g. the front page sidebar and visualComposer are working now.
