[95avblm3]

WPOZZ mostly nailed it except that it's probably not one of but all of the above. Check the power steering reservoir and hoses as well. The gaskets are inexpensive and none of those are particularly difficult to change. BMWs like to leak fluids and this one hasn't done many miles in nearly 10 years, so it sounds like someone needs to go drive the snot out of.

I'd fix the leaks and enjoy it. Nothing there sounds that scary.