I have a HDS 8 mounted at the console and 7 on the transom as I troll 99.9% of the time. If your Ipad will show the gps waypoints/map the same as the HU will, you idea will work but with the xducer on the transom, it will be difficult to stay on your WP unless you have a MG xi5 or I pilot TM. With either of these TM's you can hit the spot lock/anchor option and they will hold you on or close to the WP but not exact/dead on the spot. They both drift off and make adjustments as needed to bring you back on spot. You could mount another xducer on the TM and use an y spliter cable to connect both to the HDS HU, and switch xducers as needed to see under the boat depending on what you are doing.
Lowrance xducers don't mount very well on Terrova TM's due to the thickness of the cable, while HB xducers do (thinner cable). Can't speak about the MG xi5 set ups, never seen one.
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