if in fact the sand in that bag you have is "live", then i wouldn't rinse it at all. i would just put it right in the tank.
what i would do is rinse off the outside of the bag, then cut it open, and put the entire thing in the tank and when you get to the bottom, gently turn it over so it doesn't stir up much. that will limit the cloudiness.
the fact of the matter is, live sand (sand covered with beneficial bacteria) won't remain live for very long in a sealed bag. most of those bags don't even have expiration dates on them, so i wouldn't hold my breath waiting for it to do anything more than a bag of dry sand would.