How much could Cesare Borgia conquer?

This is a topic I don't know nearly as much about as I should, but: with a POD no earlier than the ascension of Alexander VI, how much territory could Cesare Borgia conquer for himself and, eventually, the Papal States? I understand that Pisa and Siena were next on the agenda when his Holy Father died. I also understand that Cesare had the ambition of conquering Florence for the Holy See.

If Rodrigo Borgia lives longer and the political stars are in alignment, what is the maximum Papal States that can be established in his lifetime?
 
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