How can I enable my community to flag (report) bad content on my site?
I made my own solution. Using Flags, Rules and Views.

I have also uploaded a video Tutorial on youtube explaining how to flag content and create a "Reset" action on content edition.

http://www.youtube.com/watch?v=b5xieuVf01E&amp;list=PL1A89955CCEB73A09&amp;feature=plpp