Originally Posted by venable_steven
I have this same problem on my 07 328i and I looked and smelled my power steering or brake fluid whichever canister is on the right of the engine bay and it smells the same! I think it's overflowing and dripping in the engine I need to research it more but please let me know what you find out!
If you can see it after simply opening the hood, it's your power steering. The brake fluid reservoir is out of sight.