LLR tasks typically take less than 100 MB per instance, so even running 2 cores (and maybe even 4 if you're running linux rather than windows) should work fine with 512 MB.
You didn't say how many cores this computer has, but since you don't find many recent computers with 512 MB of RAM (you don't even find phones with 512MB of ram!!!), if it's an old computer with only 1 or 2 cores, you should be fine.
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