Take a good look at
this post by member JBarca. It shows, in great detail with pictures, how he put Eternabond tape on the sides of his trailer. You can see exactly what is under that molding and what needs to be done to prevent any leaks in that area.
I highly recommend using Eternabond tape to prevent leaks and have used it on my own trailer. Here is a picture of my front cap. I used two 4" wide strips of Eternabond to cover it.
If you wish to re-do the entire roof, which probably would not be a bad idea on that old of a roof, then I would recommend using
Liquid Roof.. I did my trailer roof a couple of years ago and posted about it, complete with pictures,
here.Hope this helps you out. Good luck.
Barney
