Hi to all!
Will post my 2nd homework.
First would like to stress a couple of things that I'm starting with when thinking about iso-raising. First of all, if someone at the table open limps, I instantlly assume that he is a fish and I marked him with the fish-colour. There are rare occasions when that is not the case.
Seacondlly, if someone open limps, there is a big chance that he is not positionally aware. That being said, I think that we can agree on the fact that the position of the limper is not of much importance.
The thing which is important is our position at the table – how many players are left to act and are we going to be in position or out of position postflop in relation to the open limper. The less players left to act, the wider range we can iso-raise with. The more players (especialy aggressive ones), the tighter range. With the position postflop, we can also iso-raise the wider range.
There are some differences between limpers. Not all limpers limp the same range. Some of them are looser and some are tighter. We should look at limper's VPIP. If the limper is tighter, we can assume that his limping range is stronger and vice versa. So, if the his range is tighter, we should also iso-raise the tighter range.
The other important thing is how the limper reacts to iso-raising. Most of them are often calling, but sometimes we can find limpers which are often folding. If that is the case, we can iso – raise the wider range. Mathematically, if we assume that we are out of the blinds, and that we iso – raise 4X, we will show an instant profit if all players fold in >=62% of cases [4BB/(4BB+2,5BB)*100). That means that, approximatelly, against the limpers who usually limp – fold, we can iso-raise the entire range we are openning from every position (we have to construct the BB's iso – raising range).
The stack size of the limper is also important. I think that the smaller the limper's stack, the tighter and more value-heavy our iso – raising range should be and we should be prepared to go all preflop lighter.
The last thing I consider are postflop expectations. The more the limpers are folding to flop cbets, the wider our iso – raising range should be. Mathematically, if we assume that our cbet size is 2/3 of the pot, we will show a profit if limper folds >40% to flop cbets. So, if the limper's FtFlopCbet is >50%, I think we can isolate him with almost entire open raising range. I he folds >70%, we could even expand that range. We should be more carefull at the blinds and, of course, have to construct the BB's iso – raising range.
I also want to add that my iso-raising size IP is always 3BB + 1BB per limper and OOP it's 4BB + 1BB per limper.
While constructing charts, we can't include all of the parameters mentioned above, but we have to be aware of them while playing. While constructing my charts, I was considering our position and limper's FtFlopCbet.
So, here are the charts:
FtFlopCB<50%
Spoiler
MP (10,71%)
CO (15,38%)
BTN (29,26%)
SB (18,55%)
BB (25,64)
FtFlopCB 50%-70%
Spoiler
MP (17,65%)
CO (26,09%)
BTN (48,11%)
SB (23,08%)
BB (31,98)
FtFlopCB>70%
Spoiler
MP (21,87%)
CO (31,52%)
BTN (57,16%)
SB (29,86%)
BB (36,65%)
If the limper is unknown, I would use the 1st charts, to be safer. According to postflop play, if the limper is unknown, we could only take into consideration our relative position to the limper, hand strenght and assumtions based on average limpers/fish at the limit we are currently playing. With value hands againt fish is easy. I would bet flop, turn and most rivers, IP and OOP. On every aggression I would give up most of hands, except very strong ones, something like 2 pairs +, because fish are rarely bluffing. Against a fish we could sometimes consider 2nd pair, A-high or even K-high as a value hand.
If we hit a draw, we can cbet flop and turn, because, as elpsycho allready mentioned, we can expect the fish would pay us in case we hit, so it's profitable to build up the pot. Sometimes we also have a fold equity.
If we don't hit, which would often be the case, I think we could still bluff some boards, especially dry ones, on which we have more fold equity. I would bluff more IP than OOP, though. If our bluff on the flop didn't succeed, I think we should give up on further streets and bluffing the river against a fish should be totally rulled out.
That's it! 
Would like to see a video of how to react to 3bets, so hope one of them would cover that topic! Great job with first two!
would be great video from you 
