Does anyone know how I would be able to recreate the Magic Initiate Feat but allow the player to choose a class and then choose 2 level 1 spells from that classes spell list? Or how magic initiate is set up in general, I have a physical copy but I'm kind of useless with the homebrewing tools on site.

Yes, it is possible. I did it for my “Magic Apprentice” feats which you can see by following the link to my homebrewed feats in my sigline.

The easiest way to do it is to make a feat using one of the versions of the magic initiate feat as a template and then just changing it slightly. If you have not purchased the PHB from this website (or at least that feat) you won’t be able to use it as a template, but if you are willing to, you can purchase that feat for $2 I think, and then not only would you get all the versions of it, but you would also be able to use it as a template to make other stuff for yourself.

If that is impossible/impractical then I would have to explain it to you the long way.

I'm kind of in a tough situation with money, 99% all of it is going towards taking care of family members that can't go outside due to the epidemic and work being nearly non-existent for me for a while now. Kind of cutting into my savings to take care of everything and 2 dollars is enough to buy bread, milk and eggs for a day where I live.

Do you know of any tutorials that explain the homebrew options and creation a little more in depth if its a too long to explain here? I see that you have some variations of Magic Initiate. I'm just kind of confused on if I should use modifiers, actions, or something else during creation

It’s okay, you don’t have to explain. I can help. You would use neither modifier nor action to do it. You would “add a spell” instead.

First you pick what class you want to work with. DDB didn’t actually make one version of that feat like it is in the PHB, they had to make a different version for each class. So, for the sake of this tutorial we will assume Bard since it’s the first one alphabetically (not including Artificer).

So create a feat and call it “Whatever (Bard)” and just put Bard in the description for now as a placeholder. Hit SAVE. Then, you will hit “Add a Spell”

• Spell Levels: 1
• Spell Class: Bard
• Ability Score: Cha
• Number of Uses: 1
• Reset Type: Long Rest
• Cast at Spell Level: 1
• SAVE

Do that two times if you want them to have two 1st-level spells.

Then, under Basic Information you would put “Utility” and “Buff” as feat tags, and replace that placeholder with the following description:

You learn two 1st-level of your choice from the bard's spell list. You can cast either spell at its lowest level. Once you cast either spell, you must finish a long rest before you can cast it again using this feat.
Charisma is your spellcasting ability for these spells.

Then hit SAVE.

That will create a feat that grants two first level spells, each of which can be cast 1ce/Long Rest. Is that how you wanted it?

Is it possible to set up a feat like how the magic initiate is set up? 

Like how you select the desired spellcasting modifier and that is applied to the spells that are available?