1) 91-95 bmw 5 series' eligible for importation as "substantially similar" to corresponing US spec offering. YES THAT IS CORRECT
2) pre-96 cars dont require OBD II. YES THAT IS CORRECT
3) airbag requirements vary depending on year, but most BMW's equip airbags earlier than necessary. IN GERMANY AIRBAGS AND CAT'S WERE AN OPTION NOT STANDARD
4) shipping isnt an issue for me, & i get a one-time import duty exemption as a returning military member.
5) mileage should be low so that the engine runs as clean as possible for the epa test. WELL NOT REALLY TRUE I SEE BRAND NEW CARS WITH NEW CAR MILES FAIL THE EPA TEST...

other than that, the rest should involve paying the import company approx 7000 bucks & paying for some misc parts/labor. WELL IT COULD BE LESS IF YOU ARE AN ACTIVE OWNER.

am i on the mark here? VERY CLOSE
guidance? 1. MAKE SURE IT HAS AN AIRBAG.
2. NEW CATALYTIC CONVERTER.
3. SEVERE MAJOR TUNE UP.
4. BUT IT IS BETTER TO DO ALL OF THAT HERE WHEN YOU ARE READY I HAVE THE COMPANY AND RESOURCES TO HELP YOU ACHIEVE THE ULTIMATE. AND BE VERY COST EFFECTIVE.......SO WHEN YOU ARE READY
JUST EMAIL ME.