@Andrew Postell currently deployed reserve marine here, question: so as long as you live in the multi family home for a year, you can move out and legally turn it into a rental/investment property?

The only difference is that under legal status it is listed as: REO. 

Do you know if I’m legally allowed to move in and give notice to my tenants that they have to move out?

Banks are not stupid and the concept of putting a property into a Trust, while legal, makes it far simpler for the bank to do a sort on their current loan portfolio for all loans with the word "Trust" in them and call them all due en masse or as groups, because the banks know they didn't lend to a Trust, they lent to an individual. 

I'm not an attorney or legal expert but my understanding of it is that land trusts are a way to keep your name out of public record.

How is the legal structure set up for the property?

A quick google search and phone call with my insurance agent revealed that this is a huge scam in Florida and it's legal.

If you are over 59.5 years old, never mind, then the money is not restricted (but you will still pay the taxes unless it is the unique "roth" 401k).

You will just get a co in your own name if a second home.Airbnb is legal in AC but there is a seasonal co and fee. 

What moron agent doesn’t look up the legal owner before preparing a contract?