I found a whole page dedicated to this on the web, and it has great info.
It was one of those
online poker schools, Poker Zion. Pretty good information and I can't argue with most of it.
I've posted it below:
Playing AQ out of the Blinds by John Anhalt
So you're in the small blind or Big Blind and you squeeze your cards to look down at AQo. A very nice hand to see in position, but sometimes can be somewhat of a nightmare for a lot of players. No need to fret. Here are some of the things you should consider before taking action on your hand:
Is the table playing somewhat tight? If so, then you should consider these actions:
Are there 4 or limpers or more in the pot? If so, then it is quite likely that someone has some kind of small pocket pair and the rest probably have some other suited type or connector cards. Raise it up big in order to get the hand heads up against the likely mid or small pocket pair. 8x + 1BB per limper is a good size that will isolate you. Then bet 3/4 of the pot no matter what comes on the flop. If you are called, then it is a matter of flop texture, how hard you hit the flop, AND how you think your opponent is playing. If you are unsure of these things, then slow down and check.
Are there 2 limpers or less from mid and late position? If so then there are likely a mixture of somewhat junky hands and hands that you may dominate. Raise and take advantage of this. A raise of 6x the BB + 1BB per limper will typically win you the pot or get the hand heads up. Bet 3/4 of the pot no matter what comes on the flop. If you are called, then it is a matter of flop texture, how hard you hit the flop, AND how you think your opponent is playing. If you are unsure of these things, then slow down and check.
Is it a raised pot from early position? If the pot has been raised from early position and there are no callers, it is best to FOLD your hand until you feel comfortable making good reads on your opponents. It's simply a problem of math. If you will only hit the flop ~70% of that time AND out of that time you may also be out flopped (for instance the flop comes Queen high and your opponent has pocket kings) you will not stand to make much money and quite possibly lose a lot of money. Additionally, if your opponent is tight and an ace flops and they have pocket kings or queens, you will unlikely make any more money. Now if you are at a tight table and your opponent is very loose, then call and take a flop but proceed with caution.
Is it a raised pot with a caller? If the initial raise is from early position, then the same advice applies as in #3. If the raise is from mid or late position however in an UNOPENED pot, then call and take a flop. Proceed with caution, but the addition of the added player will make it difficult for the initial raiser to bluff with air. Additionally the position raiser has to be concerned about your call as well and and a checked flop to him isn't a green light to steal.
Is it folded to the button who makes a standard raise? Unless the button raiser is extremely tight, re-raise a minimum of 3x the initial raise. Bet the flop for 3/4 of the pot size no matter what comes.
The above advice is based on the assumption that you are playing solid "TAG" style of game.
Is the table playing fairly loose? If so, then you should consider these actions:
Are there 4 or limpers or more in the pot? If so, then it is nearly impossible to make assumptions about what your opponents have. Our general advice in these types of games is to complete and hope to flop a nice hand where you can get a lot of chips out of someone's dominated ace or Queen (or better). It will be very hard to get the hand heads up unless you raise a very large amount, and even so you may get someone calling with nearly any two cards and it will be hard to navigate your play after the flop. Until you feel more comfortable making reads and playing out of position, it's best to take the conservative route.
Are there 2 limpers or less from mid and late position? Again, it's going to be hard to assume what your opponents range in these types of games will be, but you know it will be pretty marginal since there was no raise. Even so it's generally best to raise and take advantage of this. A raise of 6-8x the BB + 1BB per limper will typically win you the pot or get the hand heads up. Bet 3/4 of the pot no matter what comes on the flop. If you are called, then it is a matter of flop texture, how hard you hit the flop, AND how you think your opponent is playing. If you are unsure of these things, then slow down and check.
Is it a raised pot from early position? If the pot has been raised from early position and there are no callers, it is best to FOLD your hand until you feel comfortable making good reads on your opponents. Unless your opponent has shown to be really loose, it's still best to fold to an early position raise with this hand until you feel more comfortable in your reads and playing out of position.
Is it a raised pot with a caller? If the initial raise is from early position, then the same advice applies as in #3. If the raise is from mid or late position however in an UNOPENED pot, then call and take a flop. Proceed with caution, but the addition of the added player will make it difficult for the initial raiser to bluff with air. Additionally the position raiser has to be concerned about your call as well and and a checked flop to him isn't a green light to steal.
Is it folded to the button who makes a standard raise? Unless the button raiser is extremely tight, re-raise a minimum of 3x the initial raise. Bet the flop for 3/4 of the pot size no matter what comes.
The above advice is based on the assumption that you are playing solid "TAG" style of game.
All of the advice given is general in nature, and because of this cannot be considered optimal given the numerous factors that play into each and every poker hand. Following this advice however will keep you out of general trouble, while at the same time taking advantage of some common No-Limit Holdem situations.