I have not gone through my notes and photographs to start deciding what must be fixed immediately and what the costs will be but I am guessing that my initial estimate of $5,000 immediate expenditure is low by 100% to 200%. 

Don't rush into depreciating expenditures.

Are you setting aside approximately 10% for maintenance, capital expenditures, and other projected needs?

Due to extensive capital expenditures and repairs, the property is almost brand new and seldom has maintenance issues.

Please thank him for his service for me.As far as this particular issue goes, forget the attorney, your claim likely isn't large enough for him to really burn any calories on.

I'm in year 7 or 8 of my investing and I have not seen many capital expenditures like some of the people here are suggesting. 

Of course you are correct, but closing costs are a one time expenditure and to discount all of it year after year against the ROI is not good accounting principles. 

For example, you can have a provision that requires any expenditure above $X,XXX be approved by the unanimous consent of the members (you and the partner), but that anything below that threshold can be done by the manager (you) (e.g., purchase of fixtures for the house, payment of subcontractors, etc.)

My total monthly Capital Expenditures came out to be about $280/month.

If I am flipping a house, are the repairs I am making (carpet, paint, flooring, tile, countertops, etc.) classified as capital improvements or maintenance and repair? Where is the line and how do I determine that line?