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16v are real cheap right now. Watch the grey market, you need to tune them before every inspection (because they originally did not come with an oxygen sensor, so oyu have to connect it every time you inspect it and then disconnect it after...the diagnostics are different, etc.) Don't worry about TLC, just get a good engine as engine parts are rare while window regulators, shocks, etc. are common. I paid around $5000 for an 87 with 130,000 miles, excellent body, interior, engine (I had it compression tested first). Needs rear shocks, one window regulator, and tires...maybe a tune up soon. AC needs a charge too. But I did it because the car itself was solid. It took me a while to find the one I wanted (found one that was good but the compression test was horrible) but cheap good ones are out there and dont be scared of them.
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1985 190E 2.3-16 Euro
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