The property I'm looking is in PR (so I wouldn't know if it counts as a state or not), the issue is that income tax there can be as high as 40% so I'm looking for a way to have the income taxed in FL.

What does that mean in numbers that count...$$$$?

I think most "multilevel marketers" cross that line.I am also not at all comfortable with recommending that people join an MLM. 

Thanks @Bob Okenwa and how would you cross off routes/streets you have already driven down ?

Do a search online, but my recommendation is to use a metal Z clip or hat channel, run the opposite direction of the existing joists ( apply right over the existing ceiling and fasten to each joist as it crosses it) then install another layer of drywall. the air space and separation help with the deadening the sound transmission. if you want to try and add some blown in insulation before you do that, as @Dave Van Horn has suggested, that may help.

You may want to use your local GIS map for tax information which will typically give you current owner address (important for direct mail), bed and bath count, square footage, lot size, year built, last sale date, last sale amount, current year appraised value, etc.

Fingers crossed haha.

By the way, don't count on the employees at HD to know that the sander works on glue.

After searching for the answer i was told the bottom line is in order to qualify for a fha loan while already having 2 other mortgages is that the property you are vacating must have 25% equity in it in order to count as income in qualifying for the new loan.

While I focus on residential and smaller multi familiar properties, there may be ways for our paths to cross and do business together.