I'm expecting AVB and this current squad to make top 4. More importantly though; I think Levy is too. If we just barely miss out on it, then I imagine AVB will be given one more year (right now, Levy seems to be thinking pretty long-term, or at the very least, medium-term). If we aren't at least challenging for top 4 come next April, then AVB won't be with us next season in my view.
Beyond that, I think Levy expects us to have a tilt at the title next season. Eriksen said as much in his interview when he talked about meeting Levy and Baldini and them suggesting that Spurs are aiming for Champions League next season, and title challengers soon after. Chiriches said something similar in his first interview, about Baldini telling him he was coming to Spurs to compete for titles, not just to finish fourth.
That's Levy's plan - 4th minimum this season. 3rd or better the year after. A title by 2016. And I don't think he's finished investing in the team yet. I'd bet my mortgage on the fact that AVB was promised a war-chest for this year that did not include the "Bale money". Looking at our net spend... that's not even been touched. Come January, if any weaknesses have been exposed in the team, I fully expect us to spend big and remedy them. With the stadium plans, additional income from TV and - hopefully - Champions League; plus the rumoured extra interest of Joe Lewis (who I suspect would be helping finance the stadium rather than the wage or transfer budget) I think Levy sees this as the perfect opportunity to lift us up a level.
That's not to say he'll succeed (though obviously we all hope he does); just that I think those are his expectations / plans.
If I ran Spurs that would certainly be my plan.