I keep watch on the semi-local CraigsList for all things BMW, and these two popped up recently.
http://omaha.craigslist.org/cto/4000934633.html A '95 in Hellrot with a gray cloth interior for $4900. Looks to be in good shape, and has had some recent work done on it. 5-speed, 123,000 miles. Maybe a little high priced, but...
http://desmoines.craigslist.org/cto/3981394208.html A '97 in dark green with a black leather interior. 129,000 miles, 5-speed, 4.44 LSD, headers, 2" dual exhaust, lightened flywheel, lowered, with some extra parts thrown in, asking $5300. Could be a fun machine.
I'm mildly interested in the red car, but already have too many cars, so probably won't happen for me. If these were closer I'd be willing to check them out for someone, but I'm about 3 hours away from the first and 5 hours from the second.
Dave