I dunno, for 800 bucks you are probably looking at a money pit. BUT by this time the car is completely devalued anyway... How many miles does it have? Check the front inside of the fenders for rust. Hell, check everywhere for rust... Check all of the rubber underneath. If you like a good challenge, and have some spare money; it could be a fun project. An '82 would be the old platform before they went to the E28 suspension. I can't speak to the good or bad of that, but the E28 platform is said to be a much improved suspension over the old. It would also have the "intermediate style" M30 head with the gigantic coolant passages and more prone to cracking. Although this head would be improved over earlier heads with more (10mm more) thickness between the coolant passage and the combustion chamber. I guess it really depends on what you want. Trust your instincts, but don't be afraid to have the car looked at professionally. Good luck. They sho am pretty.