Ring game, no limit. I'm on the button with a small ace suited - let's say A5. (On a brief tangent, I used to limp with this in most any position. I've come around to thinking that this is a pretty loose play, so I would generally fold this except in late position.) There's one early limper and then all folds to me. Only the blinds left to act. Do I limp in/raise/fold this hand? Here's my thought:

- This hand is no good unless I get the flush or flush draw. The top pair possibility is there, since most players have folded, so maybe my ace high is good, but I hate playing those weak ace pairs... more often than not it's a losing proposition.

- The odds are something like 12% to flop the flush, or a flush draw. That's roughly 8 to 1. Obviously I'm not getting anywhere near that pre-flop with so few limpers, and it gets worse if the small blind folds, or either blind raises. Implied odds are nice but I think those are better with more people in the pot. Again if only a few people play, my chance of getting someone to pay off the flush are not great. This is especially true at tables where people are acutely sensitive to the flush card coming out, which is a lot of them.

So my inclination is to fold this hand in that situation. What do you think? Also what do you think about it if there are no limpers at all, and if there are two or three limpers? (With no limpers I almost want to raise and just try to take the blinds with the ace as the probable best hand; with multiple limpers I'm guaranteed to limp and look for the flush. But how good do you want the pot odds to be before you do this?)