Look at the main Shanty forum thread about hanging a skimmer puck for ice fishing. In a photo or two you can see how to hang your transducer. Keep that zip tie a bit loose, so you can adjust your transducer to shoot straight down, or maybe off at an angle if you want to scout to the side. I have never found the need for a foam float, because without one the whole rig hangs only 1/4 from the side of the hole. You don't have to drill a second hole for the transducer, and unless you're on bluegills, the fish don't get caught up in any cables hanging below the ice.