BMW Gurus Come In!

I’m looking into an older BMW and need opinions on whether its a good buy. Also things I should look for before I buy the car. I plan on having Mike at Capitol Region Customs put it on the lift and inspect it. He wanted 4000 originally but we agreed on 3500 if I decide to buy it. Any info you could give me would be helpful.
http://albany.craigslist.org/cto/3533234126.html

Great thread to reference

http://shift518.com/showthread.php?t=7690

For what its worth, this BMW has been offered to me on two separate occasions in trade for other vehicles over the past four months or so. I never got further than texting back and forth, but it does seem like the owner has been looking to move it for a while.

Thanks Vlad definetly some good info in there. I saw an ad from a month ago or so so its been listed for awhile. I think its because hes pretty stubborn on the price. I got him down to 3350 and thats well below book so I guess if Mike gives it the go ahead Ill grab it.

You could probably find a year newer, e46 for not much more. Might be better.