[quate]We each receive $300 chips (buyin of $10) blind start at $5/$10 and double for each player eliminated[/quate]

This is a very problematic format, since you dont know when players will be elimenated, you cannot plan any tournament strategy based on stack sizes and blind sizes. 3 players can be knocked out in 3 consecutive hands, and from having a 300 stack with blinds 10/20, which means you have 15BB and a lot of breathing room you have blinds at 80/160 and you have to push the next hand.

If you can change the structure to increase the blinds based on time or number of hands.
Check out www.homepokertourney.com or the forum on home games.

Next issue - I assume most of the players play pretty loose, and this means you have to adjust your game from the online variaty.
Raise preflop when you have premium hands - AA, KK, QQ, AK
Limp other pocket pairs, suited connectors, AQ.

With 4-5 people seeing the flop and making loose calls there is no reason to push with TPTK. You need to make the money when you hit the monsters - a set, str8, high flush or better