[Hosehound25]

1: Table image, set up players for later hands so that you will get paid off with a similar odd play when you have the nuts/near nuts
2:Pot odds, you have to call not that you are put all in. You are getting about 4 to 1 when you are less than a 4 to 1 dog.
3: I believe it loses money in the long run. Assuming you do this UTG and pick up the $1.50, these profits are offset by the times that you lose. Most times you are going to be dominated holding A8 suited, or in a coin flip at best. Especially if you do this multiple times at a table, a good player will wait for QQ, KK, or AA and catch you in the act.
4: Loses money, even though you are getting the odds to call you are most likely a dog.
5: Pot odds as described above
6: You lose money in the long run if he has AQ. You are going to lose or chop the pot about 32% of the time, thus losing 68% of the time. So, you are going to lose 18% of your total investment (50% minus 32% equals 18%). So if you have invested a total of $500 in hands at the table you are going to be down to $410 (losing $90) by using such a strategy given these are the cards both players hold.