When I was returning my rental at Sacramento SMF last Thursday afternoon, they had a 740i with CA plates parked by the Preferred pick up window with the cool car sign. First time I seen a 740i rental before... there isn't a choice of reserving that car when booking online so it's possible somebody did a one way rental of the car from LAX.
IMHO, if you're gonna go with 7 series as a car you'll drive, should go whole hog and get a 750i with the M sports package and 445hp twin turbo V8. Or if you have a driver, get the 740Li with the 6" extended rear leg room.