Some of the answers depend on your age - insurance is rated by age group. Are you self covered, or under someone elses? Expect to pay 1000$ on up per year.
Maintenenace can vary depending where you go. It'll cost the most from the dealership. Try to haggle free maintenance from them.
Color - pick YOUR preference, as you will be the one driving it.
<span style='color:green'>Nobody likes you.</span><img src='http://www.bmw-forums.com/forum/html/emoticons/ph34r.gif' border='0' alt='user posted image' />
<span style='color:green'>Are you experienced, little girl? I want to know what goes on in your little girl world.</span>
<span style='color:green'>I'm the man! I'm bad, I'm so bad I should be in detention. I'm the man!!!</span>