Burning the oil out after cleaning the spark plugs. Time to change the oil separator. BMW sells a kit to replace their defective valve/separator design.
Update: No problems after CCV replacement
Background:
CCV fails, allowing oil into the engine cylinders and coating the spark plugs, causing the engine to flood and not start. To be sure this is your issue, pull a plug and see if its covered in oil, if so pull them all and clean them with de-greaser. I made the video to see what would happen on the first start since the cylinders were coated in oil still.
Just to be clear, this smoke only happened for a few minutes after I cleaned and replaced the oil covered spark plugs. After that, the car was back to running clean even with the bad CCV. The reason to replace the CCV valve is so you don't have the oil flood again.
