Questions Regarding Purchasing A Website

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Hello Guys,

I have a few questions here regarding website purchases. I am about to finish my 3rd year of business school and this summer instead of working I have been considering purchasing an established website with my savings and then devoting my spare time into growing the site. I have some website making experience from my highschool days and what I believe to be a good understanding of business fundamentals. With that in mind here are a few questions:

1) If I was willing to spend between $1000-$5000 to purchase a website what range could I expect in terms of established monthly income?
2) Is there a correlation between the amount of time required to maintain a site and the initial purchase price?
3) Do passive sites have less growth potential? By passive I mean sites that require minimal work to maintain.
4) Is there any other major website marketplaces online besides sitepoint and sedo?
5) DOes anyone here have a site for sale that is generating revenue and would meet my purchasing price requirements?

Thanks in advance for any help