A summary and tips on how to get the best performance for Second Life with the least PC building / upgrade budget in 2020, also a suggestion of what parts to get to build / buy the best budget PC for Second Life that can run it in Ultra settings with a decent performance.
Build: https://pcpartpicker.com/list/xG6cyk totaling at $518.90 (note that it would be about $50 cheaper if you buy the GPU or graphics card second hand)
The suggested build doesn't include monitor, operating system, peripherals, etc, with them included it would be about $130-$180 more expensive
As for graphics settings suggestion, enable everything and turn most things up except max # of non-impostor avatars and particles, as these might cause heavy performance impact with little to no gain in term of graphical fidelity so you might want to limit them to 6 and 1024 specifically, also don't turn up shadow quality and limit draw distance to 128 for a good or best compromise between draw distance and performance
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