Thanks a lot, I actually had a lot of the same questions. So then, if I buy the sand in sealed bags instead of getting it from someplace where it was already sitting out, I don't necessarily even have to rinse it at all, as long as it has enough time to settle?
It really depends on the type of sand it is (bagged or not) and your personal preference.
Children's playsand while being an ideal substrate for axolotls, has not been designed with aquariums in mind and will likely 'cloud' the water if not rinsed thoroughly.
I use 'fresh water aquarium sand' in my tanks, which I only needed to rinse once and then it was clean.
Prior to this, I used 'children's play sand' which was also purchased in a plastic sealed bag. This sand I had to rinse through three to five times before it was suitably clean for my tastes (ie. no cloudiness) and this was despite the manufacturer's declaration that the sand had already been 'pre-washed'.
Some sand will take days to settle and clear, some will settle within hours, and this also depends on the type of filter you have to help clear it up.
If you don't mind temporary cloudiness due to sand, then no, you don't necessarily need to rinse it.
Speaking for myself, I hate cloudy water
. I tend to prefer rinsing and rinsing again, as I know me. If I had a cloudy tank due to not rinsing the sand beforehand, and hated it (which I would), I would be pulling my hair out at the thought of "If only I had rinsed it first" and tapping my foot waiting for it to clear up.
To help prevent cloudiness, you can also place a plate on top of the substrate, and when filling the tank, direct the water flow onto the plate so the sand underneath is not disturbed.