Update on initial efforts. Removed entire lift system (except telescoping legs) and cleaned and painted all parts. Decided to go with all new cables and welded eye-bolts. Still waiting on some pulleys and a thrust washer. Decided to remove all interior paneling in order to inspect the telescoping legs. That was a real pain in the butt working under the 28" head space. Should have done that with the initial demo but I didn't think. Telescoping legs appear to be in good shape so no need to remove them.
With the paneling off, I pulled all the AC wiring and outlets as I will install a whole new AC electrical system. The DC system looks to be in good shape so that will just be a matter of figuring out where all the wires go and cleaning them up. My new electrical system will be fairly basic with just a few AC outlets inside and outside and possibly a computer power supply to provide 12 volts DC for interior lighting and gadget charging. No battery or converter this time since we always camp at parks with campground power.
Concurrently, I'm starting the cleaning of the trailer frame. Lots of surface rust after 26 years but no structural issues so the plan is to wire brush all metal and treat with Corroseal rust converting metal primer and then paint with Rustoleum. Even less head space working under the trailer on that job.
As part of the bottom work, I planned to remove the Dexter torsion axle and clean and paint and repack the bearings off the frame but that plan quickly changed when I couldn't get one of the bolts off of each end. Apparently the torsion arm on each side lost its pre-set and would not drop low enough to clear one of the two mounting bolts. Rather than fight it, I installed all new hardware (except the one bolt on each end) and plan to clean the axle with the rest of the frame and re-pack the wheel bearings on the trailer.
Walls are in good shape with just a little water damage in one corner that will have to be rebuilt.
Hoist parts cleaned up nicely; just waiting on a few parts from eBay and will be ready to re-install entire hoist system
One advantage of the roof down is that it makes a nice work space to stage all the parts. Since I'll be crawling under the frame to do the cleaning, I made sure it is supported properly. Three concrete blocks, two wood boxes, four jack stands, four stabilizers, and trailer tongue jack should keep me safe.
Torsion arm doesn't drop when unloaded so one bolt could not be removed on each end. The axle seems to work fine with no sag and tows like a dream. Not sure what the loss of pre-set means but no plans to change axle for now.