[David Cutler]

I don’t see where you can set the location on the standard tools, but you definitely set your label location on your custom tools.

1. Apply a markup

2. Move the label to where you want it to be positioned. This is accomplished by selecting the markup, then, while holding down the shift key clicking on the label and drag the label where you would like it to be.

3. Right click on the markup and select “add to toolbox”.

This new custom markup will place the label where you want it every time.

As a bonus tip you can change the color of the label before you add it to your toolbox for extra customization.