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E36 M3s are great. I still have a 1995 that is stripped down and is mostly used as a track car. The E9x M3 is great, but my E36 is way more fun on track/autox.
In addition to what people have mentioned: If the stock shocks haven't been replaced then they are definitely due. Most suspension bushings and front control arms could probably be replaced. In addition to the rear shock towers/sub frame, the front shock towers and rear sway bar mounts are a bit weak and can crack. These problems usually start to show up when stiffer shocks/springs/sways are used for years. The front diff bolt can come loose and break as well, so it should be checked.
Like with any car it all depends on how well the car was maintained. It could be that the previous owners has kept the car in excellent shape and you won't need to do much.
Either way E36 M3s as a whole are fairly reliable and parts for them are cheaper than for any other M cars. In addition the electronics are fairly simple compared even to the E46s, so that is nice when working on them. Also there is just about everything you could ever want available from the aftermarket.
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