Hi Thebartman,
Welcome to the Heartland Owners Forum.
I'm sure you'll hear from Elkridge owners shortly.
With any purchase of a trailer that's several years old, you should do a very careful inspection.
Caulking and sealants should be closely checked. Also look for any evidence of past water leaks.
Tires need to be checked. If not changed recently, they may have aged out. There is a date code stamped on the sidewall. If they show uneven wear, they'll need to be replaced and the cause investigated. If Towmax brand, you may want to search the internet for comments from Towmax owners.
You should not assume that bearings have been inspected and greased. Also check for excess wear on the suspension components; particularly shackle links.
Others will have other suggestions.