You also need to be mindful of risk and leverage in the real estate game and many people have very little plan here on how to handle contingent liabilities, etc.  

I am looking to purchase my first property and I was wondering if other than the liability aspect, if it is necessary to register as an LLC? 

Your tax liability should start March 2015, period.  

The people who hire multiple CPAs have millions in net worth or are running big businesses.A CPA will advise you on the tax and accounting side of the structure whereas a lawyer will advise you on the legal and liability side of the structure.

We want to transfer the title into the LLC name for the liability security that the LLC offers.

It's actually a policy that your company purchases that gives the tenant their own set of Liability limits and Personal Property limits while they rent from you. 

I do hope I can get it at much lower rate with decent liability coverage

While you are at this point, with so much time invested in the deal, you may want to continue on buying the house and keeping it titled in your own name, and getting extra insurance for the liability aspect, which is a benefit of an LLC.  

We have property damage and 1M liability (may be 2 million now not sure we may have increased it) with CBIZ We have 4 policies, rates range from $850/yr ($85K property) to $1700/yr ($300K property)Covers INCOME LOST due to fire or other damage for up to 2 years of proven income PLUS the replacement cost of building.

What the "few google searches" did not turn out is premises liability for Landlords, which may include natural, latent conditions that are present on the property if known by the Landlord and could have reasonably be fixed by the landlord.