I didn't apply until the end myself, but I think it depends on the state where you want to work and whether you already have a full license there. State licensing times can be as little as 6 weeks to almost a year (FL is notorious for this). That said, if I was speaking for myself I would target around month 9 of fellowship,assuming a reasonable turnaround on state licensure. Knowledgeable, experienced, able to whip out stories on interviews (which you will have to!). It is hard to tell people of the breadth and depth of your experience when you just started.