Congratulations on your new to you RV.
Looking at your photos, that front curbside molding could be almost anything from a "missing/sun damaged vinyl screw cover strip" to a completely failed and water damaged front panel caused by a water leak at the roof/front panel joiner strip (which is a known problem area with that type construction)....
The question: "Why is there white tape on the aluminum molding?" should be thoroughly investigated. It could be absolutely no concern about the trailer or it could mean a total rebuild of the front wall.....
Crawl on the roof and inspect that front joiner strip, usually a galvanized molding strip that's heavily sealed with self leveling roof sealant. The trailer was built prior to the introduction of TPO roof membrane, and probably has EPDM (rubber) roof membrane. You can verify that by removing the inside "garnish ring" from one of the roof vents. They are plastic with 4 screws, one in each corner that hold it in place. Once the garnish ring is removed, you'll see the roof membrane, cut in triangles and stapled to the vent framing. Look at the membrane to determine if it's EPDM. If it is, it will be a black membrane with a thin white top surface. The best sealant to use with an EPDM membrane is DICOR Self Leveling Sealant. It is available at any RV store. DO NOT USE LOWE'S OR HOME DEPOT SEALANT because most are not compatible with your EPDM or TPO roof membrane.
Again congratulations on your trailer and hopefully there's just a vinyl screw cover strip that's "flapping in the wind" with no water damage behind it.....
ADDED: And, just a reminder that many/most of the "super-lite" or "ultra-lite" trailers of that era that did not have a ladder to access the roof were built with very thin OSB or luan roof decking which will not support someone walking on the roof. So before you lay a ladder against the side and crawl up onto the roof, make sure that the roof is "walkable" and that will also factor in your weight (or the weight of who will be doing the rooftop maintenance/inspections. There's a significant difference in a "walkable roof" for someone 125 pounds and someone who is 350 pounds.....