I will one up you.. I was on vacation and my little brother was looking for a car.. he ended up buying a 330cic... just as he was coming home so was i and we met an hour away from home... The car he bought 30 min ago dies... then starts.. then dies when traveling uphill... being an e46 owner for years i figured out it was a fuel pump topped of the tank and got it home..
The next morning.... It was a Washed title when i ran a carfax... the car sustained light front damage at some point... and best of all the idiots that sold it to him blacked out most of the lights on the gauge cluster... he was dissapointed.. so i bought it off him for what he paid for it..
I had to redo the top... new wiring/fabric..
New abs sensors in the front..
Steering angle sensor
new pads/discs all around/sensors
all new shocks/tophats..
cooling system overhaul with a metal impeler
Oil pan gasket
Took me all summer... and almost $6000 paid $4000 for the car... and today I finally finished it... now i just need to convince my gf that its better then her SC Scion TC so she ends up driving it and I don't have to sell it.
So yes you are not the only one... there are many ppl like us, but at the end of the day you took in a messed up car and you turned it into something nice.. and thats should be worth the trouble if you are an e46 Fanatic...
On a whole different note I work for a Toyota dealership and your car books for around $4000, however you will probably get 2-3k depending on the condition of the car because old high millage bmws are a pain in the @$$ and dealers know it... unless they are making $$$ on the car that you are buying then they might over-allow on the trade to make a deal with you
My advice is that you should sell it in the condition that it is in now on CL or here... you should be able to get more money this way...