I appreciate all the advice.
In regard to the torque. I don't have an owners manual, and the trailer is too old to get one from the manufacturer. My torque wrench goes to 80ft lbs, so I did that, and then gave it a little extra with the tire iron. It's the best I could do for now.
As for the hub, I have placed some pictures below. The first thing I need to figure out is how to get it off. Do I just remove the silver cap in the center, and straighten the cotter pin in the middle? I don't see any thing else holding it on, but I'm guessing there has to be something. Any help on this would be great.
I did find this video, but I'm not sure if it's the same.
https://www.youtube.com/watch?v=rGDb83odXhU