A speed dependent repeating sound that happens for the first few blocks and then goes away for the rest of the day is usually a wheel bearing. This noise most often makes it into the cabin as a whomp, whomp, whomp sound, but can also chirp or squeek.
These wheel bearings are notoriously difficult to remove. I wasted a can of propane and broke two pullers on my e36 before I gave up and took it to a shop.
The odd thing about e26 rear wheel bearings is that they routinely fail at around 200k miles. The small Mercedes uses the same bearing, and they never fail. Must have something to do with heat dissipation (or maybe e36 owners just drive harder).