My turn signals were corroded connectors in the front bumper. Easy fix. The parking brake is never adjusted right...it's in the hat of the rear rotor, pretty easy fix.
The low heat could be three things, various costs. If the car heats up according to the gauge but won't heat the interior, it's the heater control valve. They're pricey, maybe $200-300. Could be a plugged heater core too, ~$200. If the car won't heat up at all, it's likely a thermostat, like you guessed, $35 with gasket & o-ring. These cars are famous for overheating...the cooling system is marginal at best.
If you decide to go with the car, I'd highly recommend getting a decent indie BMW tech to give it a mechanical inspection. Have him run a compression or leak down test on the motor. Could be that someone dumped the car after it overheated & just overtorqued the bolts to cover up the warped head.
I came from SX's myself, had an S12 and an S14 kouki. IMHO the BMW is better hands down, especially with the sport interior. They're not nearly as drop-dead reliable though...
Other things to check:
Any oil in the coolant/coolant in the oil, cracked vac hoses.
Rust in the outer rails, rear floorpans, driver & passenger a-pillar/firewall corners
Water leaks off the plenum, windshield, plugged sunroof vents (take it for a drive in the rain)
Oil leaks on the engine are OK, mine oozes all the time. The M42 isn't as tight as a KA24DE, but it's somehow more fun to drive. It's slower too. It'll put on the miles though...mine has 270k & counting.
Bushings are just as important on the e30 as the 240SX. New rubber or poly will make it feel like a new car.