Just bought 2004 325XI Touring with 170k miles, need some help

[BimmerLoverE30]

Hi guys,

I'm new here to the forum game but I can't stop reading through them for the life of me, so I thought I'd give them a shot. Well, I just bought a 2004 BMW 325XI Touring with 170k miles on it this this morning, and as far I know almost everything is fine. After my test drive before buying it some oil was burning after finishing and so the guy, knowing what he's doing unlike myself, took off the valve cover and said the oil was coming from a bolt on the back end of it. He tightened it and all the rest saying that sometimes people are scared to tighten them and that's why it was leaking. Well, since buying it I have been smelling the burning oil today while driving, but less and less. At the same time though, I'm conscious of my foot and trying not to accelerate too much, so is this because of me or is it done and the remaining oil smell is still leaving? How long would a burning oil smell take to fully go away? Also, there's a slight gasoline smell from the oil dipstick...
All answers and advice are appreciated, and thanks everybody in advance 👌

*PS - I'm 18, and i have pretty nice mechanically sound 1997 BMW Z3, 2.5L inline 6 automatic with 75k miles on it. What do you guys think: Store it and work on it as an investment or sell it?

[notMpowered]

Probably needs a valve cover gasket replacement. Pretty common issue. Not easy for a novice, but not impossible. Keep an eye on your oil level, and check underneath your car, and the engine bay for source of leaks.

An automatic z3 is most certainly not an investment. If its a coupe, it may climb at the rate it will cost you to store/insure it.

[tommramon]

NotMpowered has given you some true advice. Really common problem with these cars.The oil leak is probably still leaking so you'll keep smelling it till you replace the gasket..........$15 and 90 minutes of your time. No biggies here.Sell the 97

[BimmerLoverE30]

Probably needs a valve cover gasket replacement. Pretty common issue. Not easy for a novice, but not impossible. Keep an eye on your oil level, and check underneath your car, and the engine bay for source of leaks.

An automatic z3 is most certainly not an investment. If its a coupe, it may climb at the rate it will cost you to store/insure it.

If I am thinking of the correct item, I don't understand how a bad valve cover gasket could allow oil to leak through?
*My storage for the Z3 is free also, so there will be no expenses and I won't be keeping it insured either. It would be in an area 20 minutes away from civilization, so I could drive it regularly in order to keep it going smooth and not have insurance for it. (Evidently I would enjoy keeping the Z3, although I see that's not the wisest solution, so I'll take anything.)

[BimmerLoverE30]

If I am thinking of the correct item, I don't understand how a bad valve cover gasket could allow oil to leak through?
*My storage for the Z3 is free also, so there will be no expenses and I won't be keeping it insured either. It would be in an area 20 minutes away from civilization, so I could drive it regularly in order to keep it going smooth and not have insurance for it. (Evidently I would enjoy keeping the Z3, although I see that's not the wisest solution, so I'll take anything if it gives me reason enough. Otherwise, I guess it's gone.)