Trailer deck refinish

While getting ready to take a trip to Arizona neighbor guy tells me I can use his trailer that he just bought. It's got like new tires on it lubed up, ready to go, just needs the light wiring checked out cuz one tail light is not working. I get it it's dark out I load the Jeep on it and pull it to my house and park in the driveway. Next day I go out I see it it has a stud broken on each side of the rear axle so it's only has four of the five lug bolts and one cap is missing from the Hub. Clean up the bearing and the end of the axle nut and pump grease into it. It has grease zerts. I decide to replace the broken stud. It's supposed to have new brakes I noticed that two-thirds of the shoe is gone but it still has meat left. I notice the "new tires" have weather cracks. So I decide to put on the spares only to find they don't fit. The spares are 5 on 4 1/2 but the hubs are 5 on 5. So no spares an cracked tires on the ground. I go ahead and grease the bearing an find the front axle has a bad bearing. Trip now cancelled. But now the neighbor knows his fresh ready to go trailer needs attention.