I generally host cash but I typically like to have five players to start either cash or tournament.
For tournaments, I would generally allow re-entry for at least 60 minutes, so it's one event, but everyone can have an hour of play, even if they have to put three buys in the prize pool. But if the tournament is for fewer than 10 players the odds of starting a viable cash game aren't good.
Also playing cash first and ending with the tournament may make sense too.