CLM rm log error "the full-text index location is not set"

You would also notice the line following saying something like:
2017-04-01 19:19:55,174 [             WebContainer : 53]  WARN team.fulltext.service.internal.FullTextServiceImpl  - CRJAZ8191W: The full-text index location is not set
2017-04-01 19:20:02,345 [             WebContainer : 53]  INFO com.ibm.team.jfs     - CRJZS5650I Indices directory is /CLM602/rtc3srv1/server/conf/rm/indices

So if space is not a concern in wherever the indexes are written, it is safe to ignore the message. 

  As I recall, not setting the value in teamserver.properties or using the Advanced Properties section of the server config, the Jazz application will put the indices relative under JAZZ_HOME/conf/APP/  ( APP is jts, ccm, etc ).

In the Advanced Properties search for Index Directory and Index Location.  In my RM example above, one is empty, the other contains "indices".