Re: Looking to purchase an E34 M5.... need pointers
I think I'd rather have a car with twice the mileage than one that's had the head off three times before reaching 50k miles. Something going on with that. I have a feeling the head was initially warped in addition to the bent valves thus requiring a second head gasket replacement. When the dealer had the head off for the third time it would have been checked for straightness if it was indeed rebuilt. If they just replaced the six valves and did nothing else you're going to be looking at another head gasket replacement again.
They're a great car but it's certainly a buyers market at the moment. Now's the time to negotiate negotiate negotiate on the price. Lots of them for sale around the country because of the economy and for most of us they're just toys for occasional driving thus not really needed so usually the first things to go when money is a concern. My son has a 93 which is a daily driver and I have a 91 which hasn't had 20 miles on it since I bought it last December.
Buy the drivetrain because the rest of the car isn't a concern and can be easily maintained. The drivetrain will cost you wads of money to get right if it needs work. Always a good thing if you can do some of the work yourself.