I just did this on my 91 525im. First time, so everyone else can help where needed.
First step, drain the rad from the blue drain plug. Use a broad philips or flathead screwdriver. I placed a hose over the plastic 'output tube' at the side where the coolant will flow in order to direct it into a container and prevent the pet-blinding big mess. OK, I'll throw in a pic of the drain plug for fun. Make sure both O-rings are present (I lost one of mine at some point and it leaked a tad)
![]()
Next step. Drain the block. The (19mm?) drain plug is located on the pass. side of the block tucked in behind the exhaust manifold. Might be tricky as I did mine with exhaust removed. Again, watch out for a face full of coolant as this ones hard to control. Flush as per brunos instructions.
Next step. After flushing and replacing both drain plugs, fill with 50/50 coolant/water mix. I had the front end of the vehicle raised, removed the top rad hose at the rad and filled it untill as much as I could. You might hear it 'glug glug' down through the engine if you take your time. Fill the rad through the expansion tank. Attach the rad hose and keep the front end raised.
Next step. Start the car and let the thermostat open. Rev the engine at the throttle body and watch for the coolant in the expansion to drop. Add when necessary. When it doesn't take any more, you should be full.
Next step. Bleeding. As long as we're talking about a M50 with integral expansion tank, the bleed screw is a small black plastic screw to the southeast of the rad cap if the front of your car is north (mine is). Its the only other item of note on the top of the expansion tank. I suppose bleeding may be combined with the last step, but it seemed to work this way. You're supposed to see bubbles as you loosen the bleed screw off and let it bubble untill a steady stream of coolant flows out (best done outside). I only saw a few sputters of coolant and called it a day. Maybe this worked, maybe it didn't. Everything seems fine so far.
While you're drained you may want to think about your coolant level sensor/O-ring, cheapcheap.
Good luck,
DAve M