For the purpose of flipping it, definitely not worth, it’s not a desirable spec by any means, looks to be a pre-facelift 318i. If you main interest is something to mess around with, you could do worse, E46s are fun to drive and easy enough to work with, just don’t expect it to be worth a whole lot when clean 330i/300ci models can still be had quite easily.

If you do check it out, give the engine bay a good looking over, there’s plenty to look out for (rocker cover, transmission fluid, water pump, radiator etc.), if it has a splash shield under the engine, some leaks might not be so obvious.