Thanks guys, you have really put it into perspective, and those are only the known issues, there are likely a few more I have missed. I agree the price should be $6K or less depending on what codes show up on the OBD2. I now realize an E53 X5 is an entirely different machine than my E36 325is with regards to cost of ownership.
Will let you know if I get it and how the repairs go... Aloha