I want to ask for strategy advice on a strange tournament I play often.
It costs between 50 cents and $5 to enter. You get 1500 chips with blinds starting at 5/10 and increasing every 12 minutes. You can rebuy right away to give yourself 3000 chips. Any time within the first hour that you drop down to 1500 chips or lower, you can rebuy once; and if you drop down to 0, you can double rebuy to get 3000 chips in one shot. After the first hour you can't rebuy any more, but during the break you can add on 2000 chips for one buyin or 4000 chips for two buyins.
This tournament usually has a guarantee that it routinely exceeds because of all the rebuys and addons. I've seen it played a dozen different ways. At one extreme are the players who don't rebuy or add on at all and just look to maximize profit with a basic 1500 chip stack. At the other extreme are the players who go all in with marginal hands and always double rebuy and count on finishing high up the ladder in order to compensate for all the money they've spent.
If you were playing this kind of tournament, how would you play it?