I'd definitely be looking at a used M2 in that price range. The motor on the M2 makes like 380whp with a tune and exhaust. BMW's aren't nearly as unreliable as people like to say. They're just expensive if you can't do any of the work yourself and have to take it to a dealership for everything. Parts themselves aren't any worse than Nissan parts.
The most unreliable car I've had so far was a VQ40 Xterra and I've had a lot of cars that were supposedly unreliable. (2 M3's, 135i, GTI, Evo IX to name a few)
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