[Nottom]

3-handed you should be playing pretty loose, but a lot of it depends on how often your opponents are raising. If people are limping most of the time, then you can play more hands. If you keep limping and getting raised then you need to tighten up.

With the stacks you are talking about 5/10 blinds 4-500 in each stack, you are far from desparate. These are basically party NL ring game stacks, so you you shouldn't feel pressured by the blinds. IF you had under $100 on the other hand with those same blinds you need to be looking to a hand soon and double up.

If a player is constantly raiisng to 5BBs you need to be somewhat tight, but not overly so. If he is literally raising on every 3rd hand then you need to play back at him every few times. For example, if he is raising 30% of his hands, then you should be reraising with your top 10% or so. Don't be afraid of calling this bet and trying to steal on the flop, or trying to trap him with a big hand of your own if given the opportunity. The one thing you can't do is constantly call and fold the flop when you miss, this is how this type of player can be successful.