AQs, how is this line? (25NL)

Just sat down, no real reads.

PokerStars No-Limit Hold'em, $0.25 BB (7 handed) Hand History Converter Tool from FlopTurnRiver.com (Format: FlopTurnRiver)

UTG ($14.50)
MP1 ($16)
MP2 ($30.15)
Hero ($25.25)
Button ($44.60)
SB ($42)
BB ($29.95)

Preflop: Hero is CO with A, Q.
1 fold, MP1 calls $0.25, MP2 raises to $0.75, Hero calls $0.75, 3 folds, MP1 calls $0.50.

Flop: ($2.60) 3, A, 5 (3 players)
MP1 checks, MP2 bets $1, Hero raises to $3, MP1 calls $3, MP2 calls $2.

Turn: ($11.60) K (3 players)
MP1 checks, MP2 checks, Hero checks.

River: ($11.60) 2 (3 players)
MP1 checks, MP2 bets $2.25, Hero calls $2.25, MP1 raises to $12.25, MP2 folds, Hero folds.

i'd bet the turn in position for information + value.. + check/check showdown on the river..

nevertheless i would fold to a reraise on the turn and a sizeable leadout on the river after i bet the turn

You tried to see it cheap, you smelled something was wrong here.

Congratulations, you saved yourself money.

Raise more on the flop, he's calling $2 into $4.50. I make it $4.

You could fire $8 on the turn, but I have no problem simply giving up here after the flop.

I raise flop to $5. Rest is fine.

So when deciding how much to raise on the flop, what pot odds should I aim to give opp? Say if I raise to $5, there is $8.60 in the pot and it is $4 for opp to call, is this roughly right?

If you make a pot-sized raise, it gives your opponent 2:1 odds to draw, which is usually enough to make a call incorrect. In this case, pot is $2.60 + $1 + $1 (for you to call) so a pot-sized raise would be $4.60 (or to $5.60). So I would say at least $5 here, more if you think they'll call more with a worse ace.

Bet the turn for the same reason the first response gave. You need to consider this turn bet as a blocking bet or future considerations. If you are beat by the river, someone will let you know before you put anymore money into the pot.