Big Al, agreed with the post above...buy one already sorted out. Speaking from experience (we built our e30 m3), you will save yourself tons of time and money if you pick up a car already built.

Here is another option...first car listed would be an awesome track toy with some solid parts installed by a pro team...
http://www.bimmerworld.com/cars_for_sale.php

(We were out there this past weekend at Winterest as well with our e30 m3...some VERY fast GT3 RS's on track running sub-2:20 laps)

 

OP..

I currently have a GT3 and prior to that had a 996 Koni. So I know what platform you are use to. Last year I bought a E36 M3 to race. This is a Fantastic car to race and as you mentioned before, still fast... Not sure of your budget but you can get a really well sorted race car for $25-$30k. E46 add 15-20 to that. Build one and you are @ $50k+. Buy well and buy built.. (TRUST ME)!

The E36 consumables are a fraction of the GT3 and good bit less than the E46. The Ebay one isn't worth 1/2 what they are asking.. Happy to help out. PM me and I can talk to you about it.. As another person mentioned go to BimmerForums. More info there..

Lastly, I highly recc. BMWCCA Race School. Best I've seen for Club Racing. Great group to run with too. They have several coming up in this spring in the SE. google BMW Club Racing and look for it in your area.

 

I'm leaning towards the e36 due to value and economic reasons. But I'm concered with the sagnificant reduction in speed performance etc., I'm use to my turbo cab and rs which are awesome. The e46 may a better bet but too much. I really want to keep it within 30k. Totally confused!

 

Hybost - I met u and your dad at winterfest. Your car is awesome. I'm the short guy inthe white rs. My best lap was 2:25, second time at Sebring. I know someone who did a 2:18 in the rs. Just when I thought i was fast. What kind of times where u doing. What r good times for a 36 or 46.

 

Why did you buy an RS, makes zero sense to me. I would punish that car.

 

Small world...yeah, I remember speaking to you. We were running 2:25-2:26 pretty consistently on some open laps on Sunday. Our car is heavy for an e30 (2600lbs) so we need to drop another couple hundred pounds. There is more in this car...low 2:20's are feasible with a better suspension and more seat time.

Conrad in the white e36 (also with the s54 motor) ran a best of 2:23 on Sunday with many 2:24-2:25 laps that day. A lot of the e36's (also with s54 swaps) and e46's were running 2:18-2:22, but those cars had serious money in them (Moton, etc)

If you choose to put one together yourself and want to get an e36 down to low/mid 2:20s, you will exceed $30K VERY quickly.

 

Sd1 - I love my rs and will keep it for DEs. But i won't risk 150k on a hobbie. The rs is a freakn monster and I considered stripping it into a cupish car but again too much of risk in damaging it.

Hyboost- What do s54 motors go for? What does 36 motor do at sebring? Do you believe the motor swap is essential?

 

You can probably do a basic swap for somewhere around $10K. You can find engines for $2-4K (depending on mileage), then there is the whole electronic issue (Bimmerworld has a kit/harness that runs between $3-3.5K so not cheap), and then some other random parts and labor. Should be much easier in the e36 than e30 since NOTHING fit without major work on our car. But remember that this is just the start. You will need a clutch, suspension, cage, etc. It can be done in stages though...but you will exceed $30K and you will spend more to build one than to buy one already sorted.

Email me if you need more info. I can point you at a very good shop pretty local to you that can handle anything you want (e36, e46, etc).

Rob
robek11@hotmail.com

 

You will be typically ~ 3 sec slower than your RS (Depends on the track).. You have a lot of time to be made yet if you are turning 25's and your progression will be faster in a "Slower Car". E36 is fast, very fast when driven correctly. I can't give you lap times in my E36 @ sebring as I have not had it there.

Eg. The guy who turned a 2:18 @ Sebring is Trakcar. He is a fast driver. I'm the same if not slightly faster than him @ Road Atlanta in my 6GT3 1:35 on Nittos. @ Rd Atl I turn 1:37-38 in my E36 Race Car on Hankooks or Hoosiers (Race Tires). So it is fast. E46 faster, sure but you won't get a good reliable one race ready @ 30K. Again your best bet is E36 HAND DOWN! Additionally. When racing all the cars in your class are for the most part equal so even if you are a couple ticks slower / lap than your DE car you'll be having a **** ton more fun..

Again you're questions are better suited on Bimmerforums. (Race Forum)