The motor is the dual carbed version of BMW's New Six, however, it now wears twin Webers 32/38's instead of the original pair of Solex mixers. It could be anyone's guess as to why this motor needs to be refreshed, however, Mt. Prestone in the front seat may give some clues. The seller recommends swapping to the M30B35 but I'm going to advise going on craigslist and buying the first running big six BMW you find for under $800, take everything you need, and scrap the rest.
We shall call the interior collapsed but redeemable. The leather on the seats looks decent enough to throw in some new foam and spend an afternoon pinching your fingers with pliers while trying to clamp hog rings. Is that a genuine Nardi steering wheel I spy? In general, this thing needs to be parked next to a dumpster and shaken by the hand of god for about 15 minutes, followed by a good scrubbing.
Matt, a self-proclaimed bottom-feeder of the classic car market, spends half of his time buying cars, half of his time retrieving them, and the remaining third on keeping them on the road.