I looked into this a while back when i was researching for my itb project..
Get webber dcoe side mount carbs 40 or 42mm
Replace your fuel pump to a low pressure pump
Now for the ignition timing 2 ways...
1. Buy a msd ignition timing kit for the distributorless set up
Or
2. Maybe get the software from bmw connect to adjust the timing and disable the FI features.
I found it easier and cheaper to keep it injection
Hope that helped