Analog system under 500 palyer and phono pre-amp

I have 30 albums from the late 80's and don't want to part with.

I am kean to building a CD collection over vinyl; however, would like to use existing vinyl collection and may even build a bigger vinvyl library.

My concerns are cost and setup time. I have an exisiting Technices direct drive turntable which is 20+ yrs. old still works... I am thinking it's okay to keep and just get a phono pre-amp?

Any recommendations for phono pres under 500? My existing system consists of Mccormack DNA-1 and herron vtsp1A pre.
My two favorite cheapies are the Creek OBH-8SE (not the regular OBH-8, which is not very accomplished) and the Musical Fidelity X-LP. Either would cost under $150.00 used. A big step up would be the Musical Surroundings Phonomena at around $225.00 or Phonomena ll at $350.00 or so. Another choice in your price range is the Graham Slee Gram Amp V which will top out your budget.

You did not say what cartridge you are using, but the Creek and Gram are only designed for MM cartridges; the others will work with MM or MC cartridges.
I agree the Musical Fidelity X-LPS is excellent - especially for the $used.
If you are just looking for a pre I would recommend the PS Audio GCPH it is very versatile handles mm/mc and can also be used as a stand alone pre for an all vinyl system.They can be found here for around $550 or so.Also,I don't know how old your cartridge is but if it has been on the table since the 80's you might want to replace it.The suspension has likely dried out.
If you're not trying to blow the bank, get the used OBH-8SE or the X-LPS, or even just a new Musical Fidelity V-LPS ($99-119 new). You can spend the rest of your budget on upgrading the cartridge. Having used an old technics with the V-LPS, I'll suggest that you don't need much more than that if you're not planning on replacing the Technics any time soon. What I did have to do was replace the $20 Audio Technica cartridge that was on the Technics when I got it.
NAD PP2 or PP3 (if you want to burn lps)
I replaced the original cartridge @ 10yrs ago, I currently have an Audio Technica 440ML/OCC cartridge installed. I presume it's a MM cart. The player is a SL D205 which seems operable with built in RCA connects.

I 've seen 3 PS GCPH for sale, but in the >600.
With the built in interconnects, I wouldn't bother spending more than $200. I'd just spend $99 and get the MF V-LPS new. It's been on sale at needle doctor, audio advisor, and even Amazon. Check out Stereophile's review.