Written steps Thanks Volagi for this procedure!!
How to Adjust SRAM AVID BB7 disk brakes

1. Note inboard pad is stationary and one closest to the spokes.
2. Dial inboard (larger dial) all the way out CCW (Counter-clockwise) using T25 Torx screwdriver
3. Dial outboard dial all the way out CCW.
4. Mark inboard dial with sharpie (for step 6)
5. Loosen 2 mounting bolts with hex wrench enough so body can move..
6. Turn inboard CW (Clockwise) 1 full revolution, using sharpie marking as guide.
7. While pushing caliper body towards mounting bracket, turn outboard CW all the way until it stops.
8. Tighten mounting bolts, keep washers straight and aligned on bolts so body does not get misaligned.
9. Turn outboard dial a few big turns by hand CCW (~1/2 a revolution)
10. Keep adjusting CCW until not much noise (1 or 2 spoke ping every revolution or so)
11. Then adjust inboard CCW 3 clicks, if needed to reduce noise.
12. Then adjust outboard CCW and then CW if needed, until truly no noise. (or just small scrapes). Use finger (carefully) to push up on moving caliper piece to stop wheel from spinning while adjusting.

Here are some tips I've found most helpful when setting these up:

1) Assure wheel is fully seated into the drop outs and that your qrs are firmly tightened.
2) Adjust the caliper first with cable and housing fully disconnected
3) Put a large white sheet or board on the floor beneath the bike to help you visually check pad clearance.