Five turns and with the thread pitch of the bolt makes 1/2" sound reasonable to me. Yes, when you get it where you want it, tighten the second nut to lock it.

You know you'll need an alignment, right? And when you get it done, make sure the shop knows they'll need to add shims. Don't let them short-sheet you.

Big Truck: 00, 3.5, Endeavor, 5-Spd drive line in hand!
Little Truck: 87, 2.6T I/C, MT, LSDs, Tonneau Top
Her Truck: 03, 3.8, 20th Anniv, 65k
Daughter's: 06 Eclipse, Keeping it Mitsu!
FSMs: MitsubishiLinks.com