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There are a number of negotiating points on a lease and the data you've provided is insufficient for me. On the surface though, assuming the car really is exactly $75K it seems to be a total rip off. I don't know, however, how taxes are calculated in texas so if you have to pay tax on the full price of the car, then perhaps that jumps things up a bit.
First you want to tell the dealer that you're looking for the best price they can offer on the car (plus incentives like loyalty or any other promotion going on) and that you're expecting the base (not marked up) money factor (fancy leasing term for interest rate) which is currently .00188. You should easily be able to get 6% off the MSRP and perhaps as much as 7-8% off if you work at it a little. On top of that you should get any incentives. I believe loyalty is the only incentive ($1500) on leasing right now if you are a current or recent past BMW owner. Additionally you can join the BMW car club for a 3 year term for about $135 and they will give you a $1000 rebate after you buy/lease.
Bottom line you want to negotiate the best 'purchase price' you can without them screwing you on the interest rate (money factor) or other BS fees.
You may want to read up on leasing and/or get a lease calculator app. Leasehackr.com has a calculator on their website with the option of adding in MSD's (multiple security deposits to lower the money factor). They also have a good "leasing 101" section.
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