Ok, reworking this deal after doing a bit of research. I have not done this yet but will probably do it in a few weeks...
First you buy the phone above. It is not the greatest phone in the world so you might consider upgrading to the LG Motion at $150 that gets good reviews.
Add the unlimited $55 4G plan (unlimited voice minutes, texts and 4G data).
Then you need to get FoxFi on it (this allows you to tether without MetroPCS knowing). Metro probably blocks this in the Google Play store so go here to get it.
Now you can use your phone as a hotspot and surf the internet at home and when you are out for only $55 per month.
4G coverage in the following areas: