buying a beamer. question??

a friend of mine is buying my truck and with the money im going to buy a 93-95 325is. most of them in this year have a TON of miles. i found one i fell in love with, then found out it had 240,000 miles!! my question.. is there anything i should be looking for while in the market for one? ive found a few with around 100,000 miles for the same price as those with over 200k. with lower miles in my price range they have some cosmetic issues, while the higher mile ones are in great shape. just with a ton of miles. should i go with lower miles with cosmetic issues? or take the other route? first beamer ive bought so im not really sure what i should be looking out for on it. any tips or pointers would be amazing.