Q: Simple DIY (Do It Yourself) on 1998 BMW 740iL

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Pretty good with Mech Tools, call it stress relief. I'd like to do some of the work on the car myself. That being said how much of this car could I work on before I cause serious damage :-).
(3) Answers
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If you decide to tackle some repairs of your car look at Alldata's web site they allow a one years subscription at a reasonable price that gives you access to the same information thousands of independent repair shops use. It also has Technical Service Bulletins, wiring diagrams ect....
For the money it cost it would give you a lot reading.
Very little. This vehicle is very difficult to work on, depending on what you would like to do of course. Just remember, if you make a mistake on the vehicle and you are not able to repair it yourself, its certain that the repair bill will easily run into the thousands most likely. Doing maintenance on several things alone can run over $500. Repairs are another story