Local underground 2/5 game. 10 handed.

V1 ($350) - Older white guy (early 60's maybe?), he's like 75% standard tight-passive reg, but it's not uncommon to see this guy randomly do something that makes no sense, like making large preflop raises with small pocket pairs and overbetting the pot with 4th pair to the board. Also overvalues hands and will never fold a strong draw, regardless of pot odds.

V2 ($400) - Middle age black guy, super loose passive. Makes really speculative calls preflop and on the flop for large percentages of his stack. Occasionally prone to bluff with weak draws.

V3 ($500) - Relative unknown, white guy in his late 20's. Average TAG as far as I can tell.

Hero ($300)- Early 30's, nitty image (although V2 just joined the game and doesn't know this). Was playing a larger stack earlier, but lost a few mid-sized pots and elected not to rebuy for now because the game wasn't really that good.

Hero is on the BTN with A4. 4 players limp in including V1 UTG and V2 in MP. Hero overlimps, SB completes and BB checks.

Flop ($30): 235
Blinds check, V1 bets $25, V2 calls, V3 calls, other limpers fold. Hero ???

I feel like the stack sizes make this something of a tough spot. V1 and V2 can show up with all sorts of trash in a limped pot, so they have all 2 pair, sets, straights, and some flushes in their range. Not really sure about V3's range, but I think it's weighted more toward broadway cards with a spade, mid pairs with a spade, and maybe some flushes, although I think he would raise with those a lot of the time with a bet and a call in front of him in a multiway pot like this. We've still got the blinds behind us as well, who can both obviously have anything.

So I think there are a lot of scenarios where I can be way ahead here, but on the other hand I can obviously be drawing dead if someone has a flush already, which is definitely possible. I don't want to let sets and hands with a spade in them to see the turn for free, but can we ever really raise/fold here when we start the hand 60bbs deep?

I don't know... at this point none of the three options really seemed too great. Any advice?

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Edit - the formatting isn't showing up right for me, so in case anyone else can't see the suits above Hero's hand is Ah4h and the flop is all spades.

Raise flop to $100-$125 range. The only person that has a higher likelihood of a flopped flush would be V3, but with 2 callers in front of him, I'd expect to see a raise out of all but nut flushes, even those. The other guys ranges are wider, leaving suited spades as a smaller portion of their range. So you want to get value out of the A high and K high flush draws and the poss combo draws and two pair type hands. Not to mention the guys that can't get away from over pairs. Then shove any non spade turn.

Masta--

Agree that none of our options are great, but I don't think a raise/fold here is that bad, intending to jam brick turns if called and it checks to us. There are definitely opponents out there against whom this line would be a disaster, but it sounds like we can get plenty of value from a lot of V1 & V2's ranges.

Raise for sure, folding to a 3 bet. Pretty straightforward.

I hate this flop. I wonder if calling the flop, with the intention to barrel a non spade turn, is viable? It's passive but I don't want to get bluffed off our hand by a dry ace and a player with that might be more aggressive with two cards to come?
If we flat the flop, we can insta muck a spade turn. With all these limpers, someone surely has a big spade and is drawing but I can't discount the possibility of a flopped flush.
If you raise this flop, you are getting close to pot committed and kind of in the dark as to V holdings. I'd consider playing this small, call flop, raise/fold turn if there's a bet, bet/fold turn if it's checked to you.

If I raise (with a bet/fold mentality) I would probably only raise to $90 or $100 max but then again I'm still learning and only make about 4 to 5bb/hour playing 1-3nl. So I would love to hear if anyone would strongly disagree with my raise size.

Partial result:

Flop ($30): 235
Blinds check, V1 bets $25, V2 calls, V3 calls, other limpers fold, Hero raises to $125, blinds fold, V1 calls, V2 folds, V3 moves all in. Hero ???

At this point it's $170 more to hero, pot size is $770 (assuming V1 is never going to fold). V1 I think never has a flush when he just flats the raise, and is going to show up with a naked A or K here the vast majority of the time. FWIW, V2 would probably call if he had the Q or higher in his hand.

Like I said in the OP, V3 is mostly an unknown who seems like an average TAG and who hasn't appeared to get out of line or do anything crazy in the few hours I've played with him so far. So I guess his range has to be almost entirely flopped flushes and AXx.

I was originally approaching this as an easy raise/fold, but now getting over 4.5:1 on a call I felt like this was a tough spot. We're either in great shape with both villains needing another spade, or we're drawing stone dead against a flopped flush.

No idea what the right play is here...

Raise to what sizing?

Say we raise to $125 and get one call. Now we have a 1/2 psb left for brick turns against a range that is almost entirely made up of hands that have enough equity to call without making much of a mistake. Also, if we raise to $125 and one of our opponents will ship all in with pair+flush draw, 4x with a spade, two pair, sets, then we are priced in to call the all in as we will be getting 2.9-1 on a call.

You need to know how you'll react to action like this before you make your raise. It should either be an easy fold, or any easy call.

There's a decent chance you're drawing dead here. Folding is probably correct at this point, though 4.5-1 is pretty juicy. I know if I were in this spot, I'd call, but I also wouldn't have raised to $125.

Your spot sucks, no doubt, but I think calling the flop is best with the intention of betting the turn when checked to and making a decision if there is action in front.

I can't think of any scenarios where you're way ahead.

Against six random hands you're going to win this pot less than 1/3rd of the time. Do you think when someone bets and there are a few callers you're in the 68.5% of the time you're going to lose?