[gh9801]

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I'd prefer betting the flop. You want to get the donk's bets inbetween if you can. Given that you have the flush draw and CO will be raising lighter than normal, you don't have a WA/WB situation here. If he raises the flop and bets the turn, then you decide on the river. If he doesn't raise the flop, you keep betting.

On the river, what does he raise with that you beat? Is he aware you are 2p2?

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Yes, leading the flop seems nice. I dont know if villain knows that I read/post here.