The LLC is not required to be a disregarded entity, but in California (or any community property state) you have the option to treat it as a disregarded entity. That means that you file your tax return as if the LLC didn't exist. It's disregarded. You do not file Form 1065, and there are no Schedule K-1s.
You didn't provide enough information to know whether you report your Airbnb income on Schedule E or Schedule C. If you use TurboTax Online, and you report the Airbnb income on Schedule E, you can use Premier. If you report on Schedule C you will have to use Self-Employed. If you use the CD/Download TurboTax software you could use any edition, but I would recommend Premier for Schedule E or Home & Business for Schedule C, because you get a more detailed interview, with more guidance and help for your situation.
If this is the first year that you are reporting Airbnb income, I would suggest that you consult a local tax professional to make sure that you report it properly and that you understand all your tax obligations.
I did not mean to imply that you have to elect to treat the LLC as a corporation. But you do have the option to do that. I had to ask because, if you did elect to have it treated as a corporation, the answer as to what TurboTax product you need would be entirely different.
