sure.
step 1 buy a laptop atleast 2gb ram and dual core or better.
than
step 2 software and hardware
buy this..
BMW USB OBD Diagnostic Cable Inpa Ediabas NCS Expert Dis V57 SSS V32 GT1 Progman | eBay
and this
BMW Scanner 1 4 0 Never Locking | eBay
you will be allset after that. pm if you need help.