All in on the flop?
 

NL holdem tournement.
5 tables left out of 13.
Blinds 50/100 just about to go up to 75/150,
Players at table 8. You are equal smallest stack at table with about 1300. Largest at table 7K, Avearge of tournement 4.5K.

Bigblind 87o
UTG+1 raise to 300.
Button and small blind call, you call. 1200 in pot.

Flop Q54 rainbow.
Checked to you?

(I checked, UTG+1 bet 1K everyone folded)

87o is garbage in NL
 

Even in limit poker, you're not even getting good enough odds to call the early raise, IMO. And you're out of position. In NL, you're just asking them to take your chips.

Re: All in on the flop?
 

Fold pre-flop. 87o isn't worth an additional 200 of your whittling stack.

I would check/fold on the flop like you did. Going all-in is a pure bluff. Sure you have a gutshot straight but an awful big risk. If the button and SB folded pre-flop then you have a better chance to be successful in the bluff.

Ken Poklitar