The stock ports on L6 heads (E88, N42, E31) head flow well enough to generate an honest 200 horsepower using the stock cam, pistons, and SUs. Some work (mostly on the exhaust side) balancing flow, bumping the compression ratio to 12 to 1, and .500 lift 300+ duration cam will get you an honest 240 horsepower - still on SUs.
I personally think that $1,500 would be better spent on books and tuition for your college.