If the position of the spawn is the same each time you can create an image point on your sprite and then you can specify that image point in the spawn action so you wouldn't need the XandY actions below.
Correct about the instance picking yes.
If you need to spawn multiple text objects you can use a repeat loop like you mentioned.
Just add a sub event under the on sprite created condition and add a repeat loop.
If the number of repeats is not constant you could populate the repeat number by passing a variable from somewhere else.
If you need to pass different values to each of the instances created in the loop then you would also need to pass those via some other function.