Haha, here are some things to look out for any E36 chassis BMWs (esp. M3s)

Maintenance:

It's a pain in the ass if you don't have some mechanical experience and it's expensive as hell if you don't have a indie mechanic. I have both so it works out pretty well for me. Some main things to look out for http://www.edgemotorworks.com/sindex.htm

In terms of maintenance, that's most of it.

Performance:

You will love it, especially after you do all the maintenace. Nothing drives like an E36 M3 after a fresh set of parts.

Reliability:

I've had no issues whatsoever.

Practicality:

It has a useable backseat and a big trunk. If I wasn't so worried about room and practicality, I would've bought an S2000.

Parts:
Most parts are expensive, so checking online is your best bet.



M3 Sedan Manual = RARE
M3 Convertibles Manual = rare