Originally Posted by Panerai
Seriously, I figured you guys would be more help
Seriously? Less than 12 hours and you expected an answer? There are a million FAQs out there. Go look in the E39 section of Bimmerforums.com or bimmerfest.com Roadfly has the most comprehensive forum out there but you'll have to use the search button.
Hell, if you actually wanted to do some work, you could look in this forum and just go back a year to see all the threads.
As far as price is concerned, that car has been modded and been for sale for a while. It used to have a ton of stickers and I bet it's safe to assume it's been driven very hard.
The price isnt' unreasonable but you should look into the maintenance. Has the cooling system been done, bushings, struts/shocks.
I personally would skip this one and buy the 02 sport 6 spd on kijjiji. It's more money but looks to be in better shape.