In order to set up a homepage or any other page, you need to use Visual Composer. Go to Pages > Add New and under the Templates select the appropriate homepage template. If you are creating a page with Visual Composer, select Custom Page. After you publish the page, you need to go to Settings > Reading and select Static Homepage. Under the drop-down, please choose your homepage template as shown on the screenshots below:
Once you do that, you will need to go to Theme Options and set up the rest of the homepage.