9fingers -- super acquisition! You are gonna luv that little BMW! Treat it to a new battery (FI systems are sensitive to batteries) and end-to-end fresh fluids including coolant, brake/clutch and forks. Check for glazed pads. Tires if they are more than three years old. Then just ride it. Handling-wise it will be much like the RE -- low and light.
While the BMW is FI, it uses a vane MAF sensor (like old Miatas) rather than hot-wire like most MAF sensors (RE FI is alpha,N and doesn't use a MAF sensor). It should be reliable for many years but if you suddenly lose throttle control (ie, you open the throttle and basically nothing happens) then pop the cover off the vane box and check the circular return spring.
My dealer-serviced K100 was stone reliable (except for the speedometer). For years I drove it in day, night, rain, snow, etc and it never hiccuped. I dumped it in the mud many times and it never dented anything. Sometimes I had to get off, drive it into a drainage ditch by the side of the road, and walk with it up the muddy, snowy hill -- docile as a dove.
Enjoy! And post pictures!