I can almost gar. yours will be a whole lot more than that. Inspect II is a total tune up, oil change etc... but they check literally everything from bumper to bumper and they'll note everything. I know you're trying to salvage this ride but is it worth the following?
Here's your options: (sorry but playing devils advocate)
a) continue throwing small chunks of $$$ = bandaid at at gunshot wounds - in a short amount of time you can have thrown 3 times the INSP II costs at it and still not have it totally right
b) get inspect II - which will prolong it for awhile - while allowing you to save a little$$$
c) get yourself a cheap comuter car - save $$$ and get a bimmer you want exactly
Sorry for the reality check but this car needs alot of work and it's more of a project car now rather than a daily driver without being painfully $$$