I have reused mine before. I normally scoop off the top layer an inch down and set it aside with an air stone in a bucket. I put it in last when I have added all the other sand. I don't wash the top layer but I do on the rest. That top layer will inoculate the rest of the sand in a few weeks and gives you a major jump start on the micro fauna and bacteria.
When I switched over to my current setup I moved over half of what I had to the new tank. You do have to rinse it very well to get all the junk out. Normal water is fine to rinse with. I like to take small amounts, say about 6 inches into a bucket and fill up with water half way and use my hand to really scoop and turn over the substrate. I will dump the water out a few times and fill it back up. As a side note you will never get the water running clear so don't bother. The difference in PH breaks down the calcium in the substrate and will cloud the water. Judge by color of the water. If it is a darker yellow like organics it is not clean. If it is a whitish with a little color it is fine. Then move onto the next batch. To much sand in the bucket will not let you clean properly, flip side to little will take you forever to clean.
Washing sand does have prows and cons. Pro is you get an established micro fauna quickly and have an active bacteria population and you save money. Con any issues you had in the previous tank can be brought over. Some people like to start with new sand and some don't. It is really personal preference.