Home point sets automatically as soon as the AC has enough satellites and IMU has completely initialized. Hardly anyone manually sets the home point, and even more rarely sets it to the RC position.
Note about setting HP to RC position: this completely depends on your device having GPS. Most Androids do, WiFi only iPads do not. I've noticed that the latest version of Go for Android has a bug that claims GPS on the tablet is too weak. That's also been a problem with GPS equipped iOS devices for some time.
I've noticed too that it takes about 30 seconds for the IMU to completely initialize, claiming it hasn't received attitude information yet. That also delays setting the home point.
If you see a circle in your map with an H in the middle, home point is set.