Hi Chris.
My customer decided to tow start this car.
Luckily for her it did no damge.
The inlet cam was out by at least 45 degrees and the exhaust was off one tooth.
I found the TDC hole but only because I have done lots of BMW's over the years.
The timing chain, crank pulley and guides pull straight up once the crank pully and bolt are removed.
Check this out for the N45 http://bmw.workshop-manuals.com/1_Series_E87/116i_N45_5-door/index.php?id=354
Check this out for the N46.http://bmw.workshop-manuals.com/Z_Series_E85/Z4_2.0i_N46_ROADST/index.php?id=422
Engines look similar but for N45 there is no balncer shafts if it is fitted to a E87.
Regards.
Fiachra.