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E28 M5 purchase

I'm currently thinking of buying an 87-88 M5 and am looking to the list for 
its collective wisdom.  The car I buy needs to have low miles and be in 
excellent shape.  What types of things should I look for and what types of 
problems do these cars typically have.  I'm thinking of spending around 
$20k (the Roundel always has a few in this price range).

Any advice will be appreciated and if you know someone in California with 
one for sale, let me know.

Thanks much,

Jerry Chyo

'72 tii (almost done)
'94 Explorer (out the door)