Welcome to Max! It sounds like you have a very good idea of what you are doing, and the price is not at all unrealistic, just takes TIME! (like all good things). Not like you are expecting a rust free E30 for under $2000! lol
As you know, rust is issue #1 for any Canadian car. Find something as original as possible (no accidents or repaints at all). Millage is irrelevant, if well maintained, as much records as possible. But E36's are very simple, pretty bullitproof by todays standards. Just take your time, and good luck!