Full suspension but you have no intention of hitting any serious trails? Seems like a waste of energy to me.
Anyhow if you want something half decent for $500 you'll be buying used. I got my Cannondale Jekyll for $600 and it's a very competent bike. It's a 2002 but still has lots of good parts. XT hydro brakes front and rear, XT components, lefty shock. Pretty decent kit.
Pinkbike or Kijiji will probably be the best places to look.
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