>In the property window of a Data Caption in VB a field DATABASENAME includes the location of the database: X:\DIRECTORY
>Is it possible to place a variable at this location to remove the hard coding and place the location in a INI configuration file?

Sure you can and it is the recommanded way since location should change between dev and prod.

The only thing is that you don't have any automatic mechanism to do this. You will have to read from the INI file (using the GetPrivateProfileString API function) and put the value in you property.