Jiraiya's body in in the bottom of the ocean or at least what's left of it, and renni tensei awakes the body in the same location it died in (wake up only to get crushed again).
Obito was going to revive the people who died in this war, to help out the hero's and redeem himself, same as Nagato's situation with the leaf.
This. From the time Pain killed Jiraiya to Nagato doing the unthinkable reviving everyone was damn near perfect, only the ending was in poor taste. Pain took out an entire village, damn near killed the Hokage, and was close to capturing Naruto. That arc was freaking perfect.