I don't think you will have much (enough) room. A clutch fan puts the fan right up against the radiator, which solid mounts will allow it, but if you have poly/rubber engine mounts, you will be shredding your radiator.
Again, your car isn't overheating! 190-205 is completely normal. I am always using the IR thermometer on cars (work on e30/36's daily), and you are well within range.
BUT, your A/C will blow colder if you can get the temp of the condenser down.
The stock thermostat opens at 197-198f (92c). If you have a dual pole switch, the high speed won't even come on until over 100c (past boiling, or 217f). This is 1998 stock e36 vehicle specifications...


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