You know he is loose aggressive so you can expect a raise on the flop, so i would bet the flop about $5. From what MP1 did he would have probably called also, giving you some dead money to pick up when Button raises you. If you flat call, then check the turn, he will probably make a much bigger bet on the turn because the pot will then be around $37. then you raise him off it. Seeing as he has absolutely nothing i dont think it is possible to stack him.
Personally i bet the flop then reraise big on the flop because im scared of the flush draw.