Morning Scott
Welcome to the Forum
Ouch, not a good start to BMW ownership
Firstly are you certain it is the turbo? Boost pressure can be affected by several things. Who diagnosed the Turbo? I would get the codes read by some one with a BMW Specific diagnostic suite. Maybe a member near you or a BMW specialist near you.You could even buy one yourself and not horrendously expensive around £150 tops there are many out there.
As for DIY a Turbo replacement (if that is what it is) is well within a reasonable Home mechanics capability. Turbo's are available these days at sensible prices £200 upwards just remember to factor in Fluids and Gaskets that may not be with the cheaper options.
Take a look at www.newtis.info This is a BMW Technical Information site that BMW Dealers use for service/replacement and repair Then to ensure you have the correct parts use www.realoem.com This is a BMW online Parts Site put the last 7 digits of your Vin into the search box it will bring up your model then search for the part.
Good Luck
Dave