Hi,
For $500 you can find decent sound that can be readily sold when your budget increases enough for an upgrade. There are quite a few of those choices, but here are a couple that are known performers.
Audio-Technica 1005II tonearm with a Denon 103 cartridge. This is a perfect match for effective mass, but requires a moving coil step-up of some sort. Cinemag transformers will work for that, and keep you under budget, if you shop carefully.
Another one would be a Magnepan Unitrac tonearm with a Shure M97XE cartridge. You'll have money left over with this combo, but you will still have music.
Last of all, a Schroeder Reference SQ tonearm with a Lyra Olympos cartridge driven through Intact Audio transformers...no, wait... ;)