I trust that you have an exemption lined up to drive a turbocharged (135i) or otherwise prohibited vehicle (M3) for provisional licence holders? I know that Victoria has similar laws in this regard with NSW.
I bought my 135i on the last few months of my green Ps, and I did a lot of research regarding whether my application for an exemption would succeed. It was quite a bitch to get sorted since I had to involve my employer and a JP. In the end, I took my chances, picked up the car and sent in the application. Got an approval in 2 weeks, but couldn't drive the car during that period.
You gotta make sure you can legally drive the car before you even start looking. Don't go ahead of yourself. It is very unlikely the application will succeed unless the car is purchased by you under your own name.
E82 135i M-sport: SGM/6MT/Black