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A lot of people start on used small form factor desktops like the ASUS PS52. Other common ones are the Lenovo M series tiny desktops, Dell Optiplex micro desktops or Intel NUCs. These can sometimes be found used for sub $100 a piece from businesses updating their fleets. They can struggle a bit doing stuff that needs some CPU grunt, like live plex transcoding, but are decent otherwise, especially considering the low power draw. You might want to consider spreading that software demand over two or three of them.
Second this. Start with an old desktop and see where you land. it's a good starting place to see what services you like using/need. Then you can spec out a second machine to solve any pain points you have.
If you need this, the most cost-efficient way is probably to get an Intel CPU with an integrated GPU that supports QuickSync (all recent ones do) and pay for the lifetime Plex Pass. In the long run, it's cheaper than getting a beefier CPU, let alone a dedicated GPU, just for transcoding.
That also works with Jellyfin by the way. You can always switch over to Plex later, if you decide you need it and are willing to spend the money.