Yo're right to ask for that info.

I hunt in an area that has a fairly healthy coyote population. Even on a single-lung shot I would wait maybe an hour at the most (rather than feed the coyotes). Remember that the animal will be running hard and most likely "drown" in its own blood. I had a lung shot last year and waited about 30 minutes. When I found that buck an hour (60 yards downhill in thick Goldenrod) later he was already getting stiff and his tounge was blue (no oxygen).