1) it's way too easy to have someone underage be in the tournament. harry wasn't old enough to participate in the triwizard tournament, but since his name was put in by barty (moody), he was selected as a champion. I feel like this could happen a lot. for example, take a kid like ron. say someone like ron was in his second year, and the triwizard tournament was happening. he wanted to enter, but was too young. he could easily convince one of his brothers (charlie, bill, percy) to put his name in for him. then, if ron got chosen, he would have to compete like harry did. this could happen to any Hogwarts student of any age - even a first year. or, someone of age could just not want to participate, but one of their friends puts their name in for them, and then that person will have to participate in the tournament because of their friend, even if they didn't want to. I think that there should be a more secure system to make sure that only people who are of age and want to be in the tournament get their names put into the goblet.
2) what if the most valuable person to somebody is another champion? or, what if two people have the same most valuable person?
let me explain. in book four, krum and hermione sort of date, meaning that cross-school relationships are allowed. also, the most valuable person to krum is hermione. but what if hermione was picked as a hogwarts champion? hermione would have to do the task too, just like krum.
Secondly, what if the most valuable person to two champions is the same person. using the krum example again, the most valuable person to krum was hermione. hermione could've also been the move valuable person to harry, easily. what would happen then? harry and krum couldn't both rescue hermione.
I just think these are plot-holes that j.k. rowling didn't notice. if you have an answer to these, or if i'm completely wrong (which I totally could be :P), tell me pls