Confused on how to handle rendezvous point in PIM sparse.

I am working to add more support for multicast traffic. I am looking at adding PIM sparse mode but confused on how I should setup the rendezvous point. Along with how to handle if the rendezvous point goes down. My network topology looks like this and is composed of Dell S class, Dell N class and Dell Powerconnect switches. My S class switches are setup in a VLT configuration.

What I have tried:

• Setup loopback 0 on the S class with IP 10.11.0.1/32 and 10.11.0.2/32(on its VLT member switch)
• Setup ip pim rp-candidate loopback 0 on both switches
• Setup ip pim bsr-candidate loopback 0 on both switches
• I can show ip pim neighbor and see the other switch there

My questions:

• Confused as how to configure the RP. Do I manually have to specify my RP to point at itself?
• Should I just enable ip igmp snooping on edge switches? (We don't have a distribution layer, just running as a collapsed core)