If the property goes to Trustee Sale and is "purchased" by a bidder the property will be tranferred to the bidder by Trustees Deed. It is up to the new owner as to whether you can remain in the property or will be evicted. If the property reverts back to the Lender it is likely you will receive a notice of eviction so the Lender can list and sell the property. If possible, speak with the current owner regarding purchasing the property. This could be an easy process if it is not a short sale situation and you if can qualify for a new loan. You may find it helpful to consult with a real estate professional who can either help with the purchase or assist you finding another rental property.
I am happy to answer any questions.