The simple answer is yes to both.
If you are a CA LPI, you can perform bail fugitive recovery work. Most CA PIs take the courses required under PC 1299 even though they are not required to do so to be PC 1299 compliant.
By taking the courses, mainly the bail agent pre licensing course, you learn about CA bail laws which could be very useful in recovery work.
Now getting a PI license requires between 4 to 6 thousand hours of actual investigative work under a license PI or former experience as a CA law enforcement officer and or a degree in CJ. So, becoming a CA PI is not that easy and it takes time.
To be a CA BFRP is a lot easier. For those requirements, go to the following link
http://www.leginfo.ca.gov/cgi-bin/waisg ... n=retrieveGood luck.