$55: OESFD in level 3?

[Taraz]

I'm pretty sure I played this hand poorly, but I have no idea what I should have done differently. Being OOP sucks . . .

PartyPoker, Big Blind is t50 (8 handed) Converter on pregopoker.com

UTG (t1615)
UTG+1 (t795)
MP1 (t855)
MP2 (t1950)
CO (t1505)
Button (t850)
Hero (t1920)
BB (t510)

Preflop: Hero is in SB with 4[img]/images/graemlins/club.gif[/img] 6[img]/images/graemlins/club.gif[/img]
<font color="gray">UTG folds</font>, <font color="gray">UTG+1 folds</font>, <font color="gray">MP1 folds</font>, MP2 calls t50, <font color="gray">CO folds</font>, <font color="gray">Button folds</font>, Hero calls t25, BB checks

Flop: (t150) 7[img]/images/graemlins/club.gif[/img] 5[img]/images/graemlins/heart.gif[/img] T[img]/images/graemlins/club.gif[/img] (3 players)
<font color="red">Hero bets t125</font>, <font color="gray">BB folds</font>, MP2 calls t125

Turn: (t400) 7[img]/images/graemlins/club.gif[/img] 5[img]/images/graemlins/heart.gif[/img] T[img]/images/graemlins/club.gif[/img] 4[img]/images/graemlins/heart.gif[/img] (2 players)
<font color="red">Hero bets t275</font>, <font color="red">MP2 raises t550</font>, Hero calls t275

River: (t1500) 7[img]/images/graemlins/club.gif[/img] 5[img]/images/graemlins/heart.gif[/img] T[img]/images/graemlins/club.gif[/img] 4[img]/images/graemlins/heart.gif[/img] J[img]/images/graemlins/heart.gif[/img] (2 players)
Hero checks, <font color="red">MP2 raises t1225 (All-in)</font>, <font color="gray">Hero folds</font>