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I use an overdrive pro 4G from Sprint, but I got a special deal since I already have an everything data family plan with them. That hotspot costs $35 a month, and since I only use it for 4G, it is unlimited. My phone (Palm Pre-) has FreeTether, and I use that when I don't have a 4G option.
That being said, if you want to stay around the 30-40 per month range with a phone, I don't think you'll be able to do it. Most data plans cost at least $20 per month, and that is for the bare minimum of data, not including hotspot. 5 lines for my family, with 1 being the hotspot, runs around $190, and that's after a 27% employee discount.
Unless you have a 4G Touchpad, there are no 3G/4G radios on the Touchpad so those won't be an option for you.
I would say that you are probably looking to be around the 70-80 per month range for one line if you can get a phone that can enable a free tethering option (Don't know how android is for that). If you can't get a free tethering option.. then you're looking at even more.
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