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The MXL mic is great, but I wouldn't recommend you record an acoustic guitar in mono.
I'd go for a stereo pair for the guitar and another condenser for the vocals.
Maybe a Samson C02 pair for the guitar and an additional SM57B for vocals.
For the limit of 500$ It might be hard to find a interface with 3 preamps though.
Here's something for sub-500$.
ALESIS IO|2 Express
ESI nEar05 monitors
AKG Perception 170 for the guitar
AKG Perception 120 for the vocals
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