I think there is enough equity to raise this hand preflop, ESPECIALLY against a passive table.

A bet is obvious on the flop, and if you say that the players are loose-passive then raising the turn is obviously the best action. If CO doesn't come along (he probably will) you will at least gain that BB from the SB. If he has a flush you will probably get more action from him with the nuts.

Raise PF, bet flop, raise turn.

True