Hey Tcat,
I'm sure you can run the Hot Lips straight back with braid or mono - but you would have a better advantage using boards. Reading the other post suggesting letting out between 150' - 200' of line to reach the 30' depth, then I would attach the board and let out another 50' - 100' of line to get the Hot Lips further away from the boat. So now you would be approximately 250' - 300' away from the boat instead of straight back behind the boat at 150' - 200'.
I hope this helps!