Lets be fair here, the unit is a 2003 its almost 14 years old so there will be a history of caulking and more then likely leaking of some sort on any RV that is that old so caulking is not a major clue and I would expect to see some delamination on any older unit, for its age it had very little delamination just in a few small areas, I have seen much much worse on newer units. Anyway it is what it is and that's an older used trailer, even new ones leak I'm pretty sure. Get you a moisture meter and see for your self what you have. My brother has a 2011 trailer and were heading over to do some moisture meter checking on it too. I'll post the results in a bit.