I editted VM configurations under Help. However, the next time I launched Android Studio, it threw an error saying "Imporperly specified VM option". I tried some fixes I found on Stack Overflow, but none of them were helpful as there is no folder in the directory: "Users/$Username$/AppData/Roaming". I even tried to delete the studio64.exe.vmoptions AND/OR the studio.exe.vmoptions file under Android/Android Studio/bin. But this too, doesn't make the error go away.
How do I go about this issue?
Issue has been solved. For those of you who cannot find the folder with directory: SystemDrive/Users/$Username$/AppData/Roaming, use command line interface on your systems to go to that directory and then delete the .vmoptions file.
Command:
cd SystemDrive/Users/$Username$/AppData/Roaming/AndroidStudio20XX.1
del "*.vmoptions"
After this is done you should be able to launch android studio as per normal.