Hi!! Newbie here!!

HI. Welcome to the asylum.   I hope you didn't come here looking specifically for chastisement.  In one way or another we have all been there and done that. 

I think Susie has really got a handle on it.  Her advice is quite sound, especially the part where you bought something you want, could afford it, and are happy with what you have.  If you hang around here long enough you will learn more and more reasons to love what you have and to hate what you have.  The first thing to hate is not knowing the complete and intimate history of the unit...in particular how it was maintained and stored.  I would have several questions about it, but for right now will stick with the most general advice....

The VIN can sorta pin down the year, but if you have papers saying it is a certain year, it probably is.  The model was built from about '67 to '71 if I remember. 

There are some things that are generally wrong with the style that the Loflyte is.  They tend to develop leaks along the top wall seams, and will tend to "rot" from the inside of the walls out.  The "icepick test" is good advice, checking under the bottom corners front and rear.
When you study the lines of it, you will realize where, and why, it leaks the way it does, and why the damage comes about like it does.  One of the worst places for it to show up is the rear wall.  If there is severe damage to the framing, the rear will settle, and it is tough to find inside, but will show up from the rear.  Viewing the camper from the back you would be able to see a "sag" in the wall, between the tail lights.  It tends to sit on the bumper frame, and tears in the siding from the bottom would appear.  The same "sag" can appear in the front as well, and the skin will sit on the tongue.
If you are seeing this occur or you notice it start and get progressively worse so you notice it, then I would recommend parking it till you have the framework done.  It could collapse on the highway.  That being said, I don't want to scare you off traveling with it.  That is just a gauge to judge severe problem areas.  You covered already the major points of tires and bearings.  I would add this: If you are going to be camping in it and are using the stove and the heat...take it and have a professional go through the propane system to check for tight, leaks, and function of the safety end.  A small leak can become a huge hazard for fire or worse in a hurry. 

If you have no definite proof that it has been restored or resealed, I would plan to replace the putty tape that seals the windows, door frames, roof vent and J-channel.  It dries up over time, shrinks, and becomes the largest cause of leaks there is.  If it isn't leaking now, it may after it has some time on the road...if it hasn't been resealed.

In my opinion if you are comfortable with towing and going, with that many miles under your belt already, it probably does not need to be taken down immediately. 

You are in good hands...I know there are a couple members here with some real, hands-on experience working on the Loflytes.  For example:

vintagetrailertalk.freeforums.net/thread/723/lowflyte-68-grrrrrreat

You probably already saw that...it is a great view of what they are made of.  You'll have a good handle on what is behind them walls.

Again Welcome.  Grab a beer and enjoy!