To add just a couple of things to Dalboy's suggestions -
The one inch per year is very much a rule of thumb - some woods dry much more quickly than others. I had some sweet chestnut that took years and years to dry, oak isn't in any hurry but ash dries really quickly. Also some woods move a lot when they dry, others much less, some spllit at the drop of a hat, others are more forgiving.
We all do it different ways but I'd be cautious of putting blanks in a plastic bag - I'd go for a paper sack with shavings in so the wood can breath and dry gradually. Some woods are very quick to get fungal stains if they're kept damp.
Finally the technique of turning from wet to finished works really well as long as you want something organic - ie not exactly round! It can be interesting finishing your bowl because it can start moving as you're cutting it. Ideally you want a pretty even thickness throughout so the drying is happening at a fairly even rate throughout. I really enjoy the unpredictabiliy of it and also the feel of the finished bowl. To my mind oval bowls beg to be held more than round ones!
If sap is spraying about watch out for alergies and also wipe your tools down and remove the wet shavings, particularly if you're using sweet chestnut or oak - the sap is pretty acidic.
Ideally you have a lathe and a woodburner so that anything which splits horribly just becomes good fire wood for the winter!