In addition, if you're planning on using a larger motor with a VFD, you need external cooling (separately powered blower) for low speed operations. If you're just starting it, and bringing it to speed where you intend to leave it for a while, then you don't necessarily need the blower.
However, if you plan to leave the motor at a low speed for a significant amount of time, you'll need the blower. The shaft mounted blower just won't provide the cooling needed at lower speed, especially higher torque, applications.
With a properly designed VFD, the number of starts per hour is, for all practical purposes, nearly infinite. You aren't getting the inrush damage as others have noted.