After much research, I am interested in any insight or information on Clarksville Tennessee.

When you draw from the equity, you are "borrowing" it from the bank and have to pay interest.If you borrow against the equity at 7% interest and then loan it out at 15% interest, you are earning a positive 8%. 

Are there any downsides to it?

If there are people there will be a need for MTR-- getting your location, unit size and pricing to align is the magic sauce.

Is there any form of education you could recommend?

Are there any features with the BiggerPockets Pro account that you have any questions about?

If so, is there any red flags such as rental restrictions, limitations, etc.

Less Desirable Areas: Are there neighborhoods we should avoid or areas where BRRRR might be less effective?

I've been wanting to expand out of my market in Iowa, and see that the Winter Haven, Lakeland, Haines City areas are similar to purchase points as my market.

I believe you can if but they’re are some considerations.