The rent from the other units will allow your to purchase a more expensive property than you could on your own, which could help you build the value of your portfolio (and equity) faster. 

Lastly, they like building relationships.

Once you build it correctly, you can offer it to other investors as a service.

Does this matter if you're not optimizing for building a ton of wealth to pass onto kids? 

Would love to connect with other RE investors that can guide me/us and build confidence along the way.   

Along with your list, consider building a local team in each market to make managing your STR easier.

As important a consideration is how will you reinvest/spend the proceeds from the sale to build wealth.Hope this helps.

Avoid any self-help eviction tactics like changing locks.Maintenance: As a landlord, you’re responsible for ensuring the property meets basic health and safety standards, including working plumbing, heating, and electrical systems.Inspections: While there are no mandatory inspections required before renting, your property should comply with building codes.

I was on island earlier in the month for an eviction trial and stayed at the Waikiki Banyan for a few nights - that seems to be a popular STR building.

Build your team of people or as Brandon Turner from the Bigger Pockets Podcast calls it your CORE 41.