Inspection, Diag & Repair On Auction Bought E61 BMW 535i Wagon! Its Mechanically Totaled? SO WHAT!

Back by popular demand, the Green 535i Wagon I bought from the auction a few months ago! If you didn't catch the first video on this car, you can find it here: • WHO DID THIS? BMW Wago...
This car has had a rough life in the hands of the previous owner(s). Since I'm bringing this car home, I'd like to make it as mobile as possible AND know what parts I'll need to start stashing away. That's why I decided to do a complete once over of the car, try to fix a few things, diagnose a few things to get a better idea of what I'm up against once I actually start to dig into this project.
This particular car grabbed my attention because of its color and options. With few exceptions, this is exactly how I'd want one of these particular wagons. The goal with this car is to convert it to a 6-speed manual, and rear-wheel drive with help from a donor car in my yard. I'll be doing all of the "while you're in there things" in that process including cleaning, resealing, and a bunch of new parts.
The brutal honesty here. These cars aren't for everyone. They are incredibly cost prohibitive if you don't do your own work or don't want to. They are by no means a reliable car but I really like them, and with the industry I'm in, owning them is not a burden. Maybe I'm just a glutton for punishment, but if it doesn't need work, I don't want it.
I really hope you enjoyed this mid-week update. There will be more in the pipeline soon!
As always, I love all of the comments, feedback and even the criticism.
Catch you on the next one!
-Eric