[devanrules]

I'd have to agree with most of the other guys on here. 1000 to 1500 seems to be a reasonable price for the condition it's in. Obviously it's going to cost a lot to fix it up, so you don't want to lose too much in the initial investment.
If you are interested, I would suggest that you take a look at the car yourself, and more importantly, take it to a reputable mechanics shop and get a general inspection done on it. They can tell you roughly what is wrong with it, and you can figure out how much it'll cost from there.
3Ses are beautiful cars, but as we all know, they're not the most bulletproof. It does take proper maintenance and care to keep them at their peak. I would be weary buying one from someone who doesn't even know what's wrong with it, especially with that milege. You never know what unseen damage has been caused to the car. If you plan on replacing most things (which seems to be the best route) then I wouldn't pay too much for it. $3000 for a body and a few good parts is an awful lot of money to spend when you can pick up a much better example for a little more, and have a lot more to work with.

Then again, that's just my 2 cents, and I'm far from an expert!

Make sure to let us know what happens, and welcome to the 3s family!

-Devan