Valves should not need adjusting on an m50. There is probably some odd noise in there whoch is why he keeps yalking about valves. If it is what i think it is, that shoukd be valve lifters. This cannot be adjusted, only replaced during a top overhaul, but is something that some people can live with. It wont fall apart, just noise and slightly less crisp performance.
Buy the car for 500 and spend 1500 on shocks, mountings, essential replacements, and a head job. Then you need to fix the seats etc. Hmm.
Maybe you should let this one go.