hidden gem or total nightmare super cheap v10 bmw m5Speed Academy is a website and YouTube channel based on making things go fast and enjoying cars. Peter Tarach and Dave Pratte are the forces behind Speed Academy.The TTAC Creators Series tells stories and amplifies creators from all corners of the car world, including culture, dealerships, collections, modified builds and more.An AI-produced summary of the transcript, edited by a staffer, is below.AdvertisementAdvertisement[Image: Speed Academy/YouTube Thumbnail]Become a TTAC insider. Get the latest news, features, TTAC takes, and everything else that gets to the truth about cars first by subscribing to our newsletter.SummaryThis transcript follows the purchase and initial inspection of a heavily modified, bargain-priced BMW E60 M5. The hosts assess whether the $7,300 V10-powered sports sedan is a hidden gem or an expensive mechanical disaster. OverviewThe host buys a BMW E60 M5 equipped with the legendary 5.0-liter S85 V10 for just $7,300 or $10,000 CDN.The purchase is framed as a counterpoint to another project in which a Lexus GS430 is being transformed into an M5 rival.Despite the attractive purchase price, the car immediately shows signs of questionable modifications and deferred maintenance.AdvertisementAdvertisementExterior conditionThe M5 has clearly been altered by previous owners:Wrapped in bright neon yellow rather than its original Silverstone paint.Fake carbon-fiber vinyl covers both the hood and roof.Evidence of rust bubbling beneath the wrap.Front bumper damage.Severely oxidized headlights.Numerous black vinyl accents on mirrors, door handles, rear diffuser, and trim.License plate bracket held together with tape.The hosts plan to remove the wrap, though they suspect more cosmetic issues may be hiding underneath. Interior findingsThe interior is in surprisingly decent shape, although several issues emerge:AdvertisementAdvertisementLeather seats remain in good condition.Leather dashboard is cracked.Factory audio system has been removed and replaced with aftermarket components.Original iDrive electronics are found loose in the trunk.Rear privacy shades remain installed.The trunk also contains:Boxes of vinyl records.Miscellaneous tools and spare parts.Engine oil.Loose hardware - including a Honda bolt, prompting jokes about the previous owner's mixed automotive loyalties.An incomplete BMW tool kit. Engine and mechanical inspectionThe centerpiece is BMW's naturally aspirated S85 V10:Approximately 77,000 miles.Fitted with K&N Typhoon intake system.No service history.Unknown whether common failure points - rod bearings and throttle actuators - have ever been addressed.AdvertisementAdvertisementPositives include:Virtually no rust underneath.Surprisingly dry engine with no significant oil leaks.Differential appears healthy.Negatives include:Slight SMG transmission seepage.Dry-rotted tires.Aging suspension bushings.Worn brakes.Missing engine covers.Check engine light illuminated. Extensive fault codesA diagnostic scan reveals numerous problems:Engine misfires.Secondary air system faults.Catalytic converter efficiency faults on both banks.EVAP leak detection issues.Low battery voltage.Steering angle sensor errors.Multiple airbag faults.Suspension (Electronic Damper Control) failures.Wheel speed sensor problems.Parking sensor errors.Various communication faults between vehicle modules.AdvertisementAdvertisementBecause many codes appear voltage-related, the hosts install a new AGM battery before further diagnosis. Test drive impressionsDespite the intimidating list of faults, the M5 drives better than expected.EnginePulls strongly throughout the rev range.Sounds spectacular thanks to the naturally aspirated V10.Appears mechanically healthy despite the warning lights.SMG transmissionThe biggest disappointment is BMW's first-generation SMG automated manual gearbox:Slow, jerky shifts in normal driving.Requires lifting off the throttle during shifts for smooth operation.Feels outdated compared with modern dual-clutch transmissions.Violent gear changes under full acceleration.AdvertisementAdvertisementThe hosts conclude the transmission is the car's weakest feature and briefly discuss-but reject - a manual transmission swap. Overall conclusionThe hosts determine that the M5 is:Mechanically intimidating but potentially salvageable.Surprisingly free of rust and major oil leaks.Burdened with numerous electrical and electronic issues.Powered by a healthy-sounding V10 that still delivers thrilling performance.Although the project will require substantial work, they remain optimistic that it can eventually outperform the modified Lexus GS430 featured in their parallel build series. Future episodes will focus on diagnosing and repairing the car's many problems.