[Closed] 5$ s'n'g: Q8 on bb, flop 785

Hand converted with online PokerStrategy.com hand converter:

Play hand

$50/$100 No-Limit Hold'em (5 handed)

Known players:
[tg]BB(Hero)$1575.00:///////;MP3$465.00:///////;CO$1300.00:///////;BU$5020.00:///////;SB$5140.00:///////;[/tg]

Preflop: Hero is BB with 8:d, Q:s.
MP3 folds, CO calls $100.00, BU calls $100.00, SB calls $50.00, Hero checks.

Flop: ($400) 7:s, 8:c, 5:c (4 players)
SB bets $200.00, Hero calls $200.00, CO folds, BU folds.

Turn: ($800) K:d (2 players)
SB bets $500.00, Hero folds, SB gets uncalled bet back.

Final Pot: $800.

I think I made a mistake with this hand. I should've reraised all-in or fold on the flop. Since there are 2 players left to act after me, I think folding on the flop is best here. What do you think?

Thanks,
Protagoras