If it's cheap enough then it is worth buying. These motors can be fickle if you don't maintain them, it very well could be something simple, because the guy doesn't seem to know much. I wouldn't expect, however, to buy it thinking it will be an easy fix, you never know. If the motor is totally f'ed, then you can always rebuild, swap in a junkyard motor, or swap a 24v into it. It seems like even the most crappy e30s still go for over $1000 in my area, so if I could find one in decent shape with a burnt valve or something for like $500 I would be all over it.