1999 BMW 323i 111k miles for $4,000? Whats the catch?

http://newjersey.craigslist.org/cto/3053193047.html

I'm currently on the lookout for a BMW and this one caught my eye. I don't have much money to put in if I were to buy this car, so what might be the catch if there is one? Some things to look out for in an E46? Sorry if this is the wrong subreddit.