New Owner, could use some advice

[Bguy325is]

Hey everyone, first time BMW owner here. Found a 94 325is w/148K is amazing condition thats been sitting for a while, but hopefully I'll be able to get going. Hate to drop a few questions right into the first post, but I'm wondering if anyone could nail down a couple issues I'm having. Thank you in advance to anyone that could shed a little insight. It's either work through a few of these or give up and part the car out of which I don't want to do. 

1. Hook up the battery and the gauges are constantly on whether the key switch is off or on. 

2. Clutch pedal is to the floor and has zero pressure. Currently replacing the master slave cylinder, but probably should replace the master at the same time. I pulled the old on out, see images, and there was a lot of tan almost saw dust that came out. Not sure what is going on there. 

3. I haven't heard it run yet, but the mechanic that worked on it told me it was parked as a running vehicle. Turn the key and nothing happens. 

[Greydog]

Morning Brian

Welcome to the Forum

First your pictures

1. When you say "Hook up a Battery and the gauges are on" what exactly happens? do the needles move ? are the gauges lit up ? 

2.Have you scraped any of the cru away to see what it is ? only ever seen something similar years ago on an old Rover P5 the inspection plate at the bottom of the bell housing was missing, all the mud and crud thrown up was picked up by the fly wheel and sprayed around the bell housing. 

3. Check all electrical connections, start with engine earth straps, under bonnet charging points, main fuse box and relays, power to the fuel pump, power to the starter motor and solenoid. Don't just check them clean them as well.

As it's been sitting I would turn it over by hand first, then check the oil and filter (any signs of water) If all good check fuel is getting into the fuel rail then pull the spark plugs and check there is a spark. with the plugs out spin the engine to get oil pressure (oil light goes out) Then if all good plugs in coil packs on and give it a whirl.

If it fires up and runs get it up to temp and check carefully for leaks, if no leaks then you have a choice to make (1) If I were going to keep it I would start at the back and work my way forward refurbishing all the essentials Brakes, Suspension (Checking for rust). At the front Brakes, Suspension and Steering if all good full service all oils and filters and enjoy.

Great Find Enjoy 

Dave

PS. If you aren't aware check www.realoem.com put the last 7 digits of the Vin into the search box it will bring up your model. Then search the relevant sections it will give part numbers (if you need parts) and small exploded drawings to help see how stuff fits.

If you haven't already get a good Diagnostic reader BMW specific would be best plus a good multi meter. (BMW love multiple earth points make sure they are clean and mounted securely)