I have shotty GPS in my neighborhood but sometimes it will connect to 6 satilites but will quickly drop back to 3 or 4. If I set a way point and it takes off and looses itself and can only find 4 or 5 what will happen???

Hi Aaron,
Please try different locations.

Aaron, check http://satpredictor.navcomtech.com/ for good satellite time slots. I wouldn't recommend flying without your home point having been set first, or, indeed, with fewer than 6 satellites available. You'll get into trouble in a hurry.

Try to find an open area with horizons. The fewer structures (trees, buildings etc) around you, the better your GPS can find the sats there are there.

I'm sure it's not recommended, but you could do what I do when flying at my house. I can't get gps on the ground there, so I fly up above the house/hill in atti mode and try to keep the craft steady until I see the green lights indicate it has a gps lock. Then, I manually set the home point in the air. You can then land and program a ground station mission if you want, but don't execute it yet. Then bring the craft back up and get gps lock again. At that point you can start the mission and the Phantom will carry it out and return to the home point in the air. Keep in mind that the Phantom is harder to control without gps, so you need to be comfortable flying without it until you can get a lock. I've done this dozens of times and it works for me every time. Follow this advice at your own risk though.

There have been solar storms recently that have adversely affected GPS reception.
To count on having GPS all the time is not wise.
Even if you were able to establish Home Point.
If GPS lock is lost mid-mission, the craft will not know where the waypoints are.
If the craft gets into trouble, and it's BVR, you'll need to take control back.
With GPS failing, HL may not work...
And then, insitb, you'll need to know how to fly in CL.
CL is compass dependent, and does not require a GPS lock to function...
If you know approximately where the craft is w.r.t. Home Point, the front/back/left/right CL grid can get you back into visual range.

Note: insitb and I had a pro/con conversation w.r.t. CL on another post...