I'm a 19 year old with no car at all, but my dad will soon give me his 1999 BMW M3. i love the looks of it so much and i just couldnt give up the chance to take it. Anways... is it possible to just put a new engine in it and see it work like new?

You could, but it will not be cheap. This will at least cost you $2000-3000. Especially if you try to get the engine that was made for this car.

You could buy another S52 to put into, but like the first poster said they aren't really cheap. I'm assuming the engine doesn't run well (or something is wrong, one way or another) if you want to see "if it will work like new." So, you are between a rock and a hard place if you don't have a good 4 or 5 grand sitting around for a rebuilt engine. Assuming that you can't rebuild it yourself and will be paying a shop to yank it out, rebuild, and put it back in, because that's where a good chunk of money will be going.

new engine would cost you more than 2-3k,and professionaly instaled ,it's worth it.