Actually, the Homepage template will show the recent posts for the blog post section. You need to select it as Front Page from Static Page option on Settings > Reading. Refer to: http://support.jegtheme.com/documentation/falive-page-template/
To disable sidebar on Homepage you can find the Sidebar Options > Show Sidebar at the bottom. For global sidebar (posts, pages & archive) you can set from Falive Dashboard > (Post Settings / Page Settings / Archives Settings) > Show Sidebar.