Today I was able to get the E30 up on the lift and start an inspection of the undercarriage and mechanical components underneath the vehicle. As far as rust goes the car is really quite clean, it has almost zero rust which is great for a 34 year old car. Mechanically everything underneath seems to be in good condition, nothing appeared to need attention.
After checking it all out and seeing how clean it was really was a relief and helps me to get a much better understanding of what my true first steps will be and what parts I should order. I also was able to check out the engine bay (which I had not done previously because the bonnet cable was either broken/not catching) The engine bay was actually cleaner than I had expected it to be. The engine and all other components all seem to be in good working order. I only briefly looked it over and noticed nothing that needed to be replaced or changed right away. I will certainly be checking it over more in depth soon and ordering any parts which seem to be on their way out. A new bonnet cable, along with various pieces of hosing will probably need to be replaced soon. Until further notice the cars body, frame, and engine all seem to be in pretty good condition. Check in soon (: