You're seeing the driver's front tire through the fisheye lense in the driver's door mirror. The distortion is the nature of the beast.
2008 E90 M3 - Dinan Stage 3 and BBS CH's
2000 328i sedan (UUC suspension - still the favorite)
2012 Mini Cooper (wife's)
1991 325iX (sold - gone but not forgotten!)
2011 X3 (Performance Center delivery done May '11)