i recently purchased a gibby acoustic, and had it profesionally set up. it plays great except for one flaw--on the low E string, there is fret buzz when i use frets 5 and lower. this is especially annoying when i try two note chords ( like g5 g6) using the low E. Will raising the action of this one string fix this problem? If so, how do this? i have 12's on it, would 11's possibly fix this problem? How else can i fix this problem? Thanks in advance.
Take it back. That's part of the setup, proper neck/action and bridge adjustment. There shouldn't be a problem having them fix it. Honestly changing that stuff on an acoustic is alot more difficult than electric so that's something I wouldn't attempt myself. If you want to though, talk to CorduroyEW, hes a luthier.

Quote by wylde_overdrive
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bry is right. take it back to whomever "professionally" set it up because it sounds like they did a really poor job. they should fix it for free.