Loose, but not absurdly loose, 2/5 nlhe (300min/ match stack)
V1($700)- old aggro guy, capable of bluffing.
V2- ($1300) white guy mid 40s. Seen him around but haven't seen him play much. Just moved to table due to a table break, with $1750 in chips, but only could sit with1300,
H- (825) young LAG, caught recently on a triple barrel bluff vs 2nd pair on drawy board. But has won few decent pots with bluffs as well. 3hrs and nothing to premium, all hands won so far were from bluffs. ( in for 500 up to 825)

V1 utg+4. Raises to $15
V2 in cutoff calls.
Hero- AhTh in BB calls.

Pot $45.
Flop AxTx5h

Hero checks (a lot of history with v1, nearly always cbets no matter what. Plan to x/r against v1)

V1- bets $40.
V2- Raises to $120
Hero- flats ( not quite sure if this is optimal?)
V1 calls.

Turn- Jx
Pot $400

V1 checks.
V2 bets $275
Hero-???

call

3b pf to 70

as played call to keep V1 in the hand as well as not blowing him off an ace, expecting the possibility of V1 to c/r. I am assuming it's a rainbow flop.

I feel like that is one of the worst turn cards because AJ may be the top of V2s calling range pf. It would be surprising to see him raising AJ here OTF, but without any reads we don't have much to go on. If V2 is a reg and understands that V1 c-bets light, he may be thinking along the same lines that we were with regards to raising any piece of the flop.

Not sure what to make of V1, no real draws on the board so hopefully he's just getting sticky with Ax.

With this being such a dry flop I think we should be raising OTF given action. We run into bottom set a chunk of the time, but there are more combos of A5/AK/AQ/AJ in both of their ranges. I also can't imagine V2 raising with bottom set on such a dry board. With our aggro image I think we get called by almost any ace.

We have a psb left now that V2 led out OTT, so the money is going in either way. Calling keeps both of their ranges wider so call and bink a T OTR.

We are in this spot because we called out of position with a marginal hand and for that reason I agree with Playbig--3 bet pre or dump it.

I also don't mind donking the flop because we are quite strone in a three-handed pot (value) and we can take better control of the hand and get more meaningful information when the V's act behind us.

As played need to reraise the flop to something like $300.

V1 is c-betting and could be anywhere from AK to total air. His bet means nothing to me.

V2 knows this and is raising for value with an A of some kind (or better).

You can pump it to $300 and announce that you have a real hand or you can call and have no idea where you're at (especially when V1 comes along as well). I know you shouldn't make a bet just for information (this proposed bet is not solely for information, it is also for value) but this raise yields so much info for you to play the hand better.

If V1 calls or jams, you know you are beaten with AA or TT.

If V1 folds but V2 jams, you know you are beaten with TT or 55.

If V1 folds but V2 calls, I am jamming any turn. Unfortunately this leaves you vulnerable to get stacked by TT or 55 but top two vs. a set is a cooler every time so I don't mind losing like that. It also puts V to a tough decision if he actually has AJ because your line could also be TT or 55.

Essentially the line that I am suggesting I believe maximizes value against hands you beat and gives hands that you lose to a chance to fold.

Pre-flop is fine. Maybe if V1 is pretty wide, it's worth a 3-bet, but it's hard to see it for value (do people call with A9 or worse?) or a bluff. You could take down the pot, which is a good outcome, but I think calling is better.

Pretty tough spot post-flop.

Our SPR is 18 on a fairly undrawy/unconnected board. I don't necessarily want to stack off with top two multi-way.

Wish you had a better read on V2. V1 doesn't worry me as much; he can have plenty of Ax hands. I don't really expect V2 to call pre/raise flop/bet turn with AK/AQ/other one pair hands. He can only have 2 copies of A5s. There are 3 copies of 55 and 1 of TT.

Obviously there's 4 of AT for a chop.

I think calling the flop is good. We have the best hand often enough, a , T or A would be great (that's 14 ways to improve our hand/equity). I don't want to push V1 or V2 off worse with a shove.

If you consider V2's 4 combos of the AT chop, 2-6 combos of A5s/o, 4 likely set combos, any other possible worse combos, and then the very possible overlay from V1 stationing around with worse Ax, then you can't really fold. V1 could have some sort of hidden monster, but I really doubt that.

Probably calling turn and check/calling rivers hoping V2 continues to value bet or spaz off with worse and V1 can't get away from one-pair hands.

I like willyoman's analysis