BMW Repair: No Compression, overhead valve engine, spark plug wires

Question
Bought a 1991 E34 M5 with S38 engine.  It sat up for almost a year due to a deer hit.  Replaced fender, hood and radiator.  Engine fired right up when battery charged but idle was rough.  Checked all spark plug wires, replaced spark plugs, distributor cap and rotor, pulled injectors and had them cleaned.  No reaction with engine running when I pulled wire from #5 cylinder so I check compression on all cylinders.  All cylinders read 175 to 185 PSI except #5 which reads zero compression.  No needle movement at all on gage however fuel/air mixture will blow out of hole when spark plug removed.  No apparent blow by as none is noticed when dipstick pulled while engine running.  I'm suspecting stuck valve or burnt valve not allowing cylinder to seal during compression cycle.  As this is a dual overhead valve engine with solid lifters adjusted by shims there's really nothing to see when I removed the valve cover.  Does it seem like I'm on the right track?  My next step seems to be remove the head to inspect the valves.  I'll check rings too but I feel like it's a valve.  Mainly wanting to know if I've missed anything before I pull the head.  Found an excellent write up in bimmerforums with pictures describing the removal and adjusting process.  Opinions or advice please.  Thanks.

Answer
Having reread your question I would say the head does have to come off and check the valves in #5. I am thinking since it sat for the length it did oil had a chance to bleed down the tensioner and upon start up a valve hit. With not having any compression head removal is a for sure thing.Sorry for the delay in response.