You will probably find that you only get about 3/4 gal. out of the radiator (even with squeezing the hoses), and maybe 1 gallon out of the block if you are able to find the drain plug hidden behind an O2 sensor on the passenger side. That leaves at least a gallon still in there - don't make the mistake that others have of starting to fill with too much distilled water and not being able to bring the mixture up to 50/50.
Given the difficulty of getting everything out, short of performing a complete cooling system disassembly, or having the machine a dealership or indy uses, a good DIY approach is to do the (easy) partial draining every 2 years. That way, the coolant mix is kept in acceptably good condition over the long term.
Don't use flushing compounds because some will always remain in. Similarly, I think it better to not use a hose to flush tap water through. One other caution is to treat plastic radiator and bleeder plugs with due care - I see many threads were owners of other BMW models have attacked them inappropriately and suffered the consequences.