The following are a few important rules that need to be observed and followed when prepping animations:
Start by setting a key for the prop, then navigate to the prop menu under the Key Info group of the biped motion menu and set both position and rotation space to world. This will allow you to animate the node independent of the root of the character.
When creating an animation in which the character has to turn quickly (such as a start run transition) the locator essentially needs to be a projection of the Bip01 on the ground, yet travelling in a straight line on one axis. It's height is zeroed out, but one axis in the direction of travel, either X or Y should match the Bip01 as closely as possible.
Take the following example. This is a run start transition facing forward and turning around to run in the opposite direction (combat_runStart_rifle_reverse_fast_lfoot_01). Below the film strip are a few zoomed in images of the same motion showing how the locator itself moves and rotates in this motion.
This should give you a basic understanding of this particular animation. The locator is the small red arrow beneath the character. The following set of images shows how the rotation is setup for the motion above.
Keep in mind that the locator should be moving in a straight line in the direction that the character is travelling. In other words, no deviation to either side. However the actual translation of the locator in it's forward moving direction should follow the Bip01 as closely as possible.