CA will soak you for $800 a year and you will still want to get insurance, etc for the property.
The benefit of having an LLC own the property is that any claims are limited to the investment and profits of the LLC. If that amounts to $50K,then that is all the plaintiff gets. They can’t go after your personal assets. Some investors even put each investment property into its own, separate LLC so that the liabilities of one property cannot be levied against the other(s).
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Since you still need the insurance, why bother with the LLC? Would not an umbrella insurance policy accomplish the same thing- i.e., take the hit in case of a lawsuit, leaving your assets intact? Assuming of course that any settlement is below your insurance liability limit of say 1,000,000.
