welcome to the forums
opinions differ for idle time, me personally (and i live in toronto canada), is to let it warm for about a minute than drive it lightly, meaning dont gun it. i try to keep the revs below 2800 for a good 5 minutes. than slowly start to drive normally when the needle starts to creap towards the warm mark. BMW canada actually says to warm for 10 seconds then drive.
as for the smell, im not certain what it could be , but depending on how long the car sat, it could be from that alone. beyond that i dont have any advice to guide you on this maybe someone else will.
you blinker light issue is gonna be a bulb that needs replacing. you need to take your gauge pod out and replace the proper bulb, check the faq forum for how to remove the gauge cluster.