Final answer:
The center of mass of a system, which includes a rod and attached masses, is typically located on the axis between the connecting rods, assuming the mass distribution calls for that arrangement.
Step-by-step explanation:
The center of mass of a system can indeed be in a location where there is no actual mass present. It's a conceptual point which represents the average location of the mass distribution of a system. Based on the information provided, if we have a compound object composed of multiple masses connected by rods, such as in the case involving a thin rigid rod of length L and two small bodies of mass m1 and m2 at opposite ends, the center of mass is found by considering the distribution of all the masses including the rod itself. As such, the answer to where the center of mass of the system is located would most likely be
On the axis between the two connecting rods, rather than on the mass itself, given that the system's mass distribution would dictate such an arrangement.