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About 4 years ago I went on the hunt for a clean E38. Looked at and drove a bunch, even traveled a few hours away to look at some, but they were all rougher than described and none of them were the right car for me. In the middle of it, I stumbled across an E92 335i that was too good to pass on, so I bought that, instead. Now, i do love my E92, but the want for a clean E38 has never ceased. I can't tell you what makes sense logistically, or financially, only you can decide on that. What I can tell you is figure it out and get one, they're only going to get either rougher, or more expensive. As for it being a money pit, that's likely, but also depends on the car and if you can DIY...just like any aging BMW, really.
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