I flagged my first comment as spam.
When I did I received a popup notification about the number of things I could flag as spam.
It seemed to indicate I could only flag 5 things as spam. Is this true? If so is this for the lifetime of my account, a monthly limit, something else?
Those are daily limits.
In addition, this limit goes up with the amount of rep you have, another measure of "the system trusts you more as you prove yourself to the system".
Keep in mind the server is on UTC time, not your local time (unless your local is GMT) so the "end of the day" is probably at a different time from your generic "end of the day".
