Would it be possible to make 5-figures with a new blog?

I've decided to start a new blog. I've got my plan ready. I'm needing an income source to help pay for school. I'm willing to put in as much work as possible to hit the ground running. If I use Facebook and Twitter ads along with buying visitors would it be possible to reach a 5-figure income within a few months?

Be patient, do not rush, and use Black Hat SEO. It'll kill your website. Try to build a website with good content, high quality, then the income will come. No one can say exactly when you will get income. Try to do your best.

If you mean buying those $5 per 1000 visitors or something like that.. then no, it doesn't work. That's just bot traffic.

Getting traffic via paid advertising is not so simple either.. Its not like you put an ad copy and converting traffic starts pouring in.. You need to test different angles, different headlines, different pictures, different audience and so much more to get the right type of visitors. Then comes the part of making money.. You need to be spending less on ads and making more from your blog to be profitable.

Yes. If you count the figures after the decimal point.

It depends on your niche and how you plan to monetize it

It also depends on whether you're serious about building a SOLID BRAND