Am I getting Screwed?

1. $1000 Producer's Fee
2. Opening Title Credit - Single Title Card "Producer"
3. Co-Ownership Rights with me
4. 50/50 Split of any profits that are made
To me, these seem like steep conditions condiring I wrote the film, have been producing it, and have invested all the money myself.

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Let me confirm it for you: an investor who does NOTHING but invest usually makes 100% of the first monies and 50% there after and sometimes as much as 70% thereafter (read the book Filmmaking and Financing). So you should definitely be making more than 50% (of second monies) for taking that monetary risk AND doing all of the other stuff.
If you are putting up the money then it should be a work for hire agreement and you OWN all copyrights otherwise you are potentially headed for a legal mess.
You also need to spell out each and every thing that this producer is supposed to do for $1,000.
It's only $8,000 so you really don't have the $$ to hire a lawyer for more than an hour consultation, but I think it would be worth it to hire an entertainment lawyer to check whatever contract you can whip together. There's so many shady people in this business who appear "down to earth". Producers love to do the "creative accounting" thing so you need to layout what exactly that producer can do with the $8,000. Can they fill up their gas tank, pay for their meals, invent "office expenses", pay their phone bills, pay their rent with it. Better to be in control of that money yourself.