Its a great looking car, 2 door and manual trans, what else do you need? Since its bought from someone you know, there should be a history which is very important. There is a ton of tech info out there plus tons of good used parts so you should be able to keep it going at a reasonable cost. Remember that tires, brakes and suspension should come first. You don't need go bigger, just good quality. And join BMWCCA.