I've been up to Laurel Lakes alot. The trailhead is off Sherwin Creek road, just west of 395.
The trail is super easy, I've seen bone stock 4x4 Suburbans at the top and I bet a Honda CRV could make it. It's basically a rocky fireroad with a few sharp switchbacks - it ain't rockcrawing, but 4low is nice for keeping you off the brakes when coming back down the steeps. There are a few whoop-de-doos near the bottom of the trail that help keep the 2 wheel drives out - except for the asshats that drive thru the brush to get around the bumps.
Fishing is a tough there, the lakes have golden trout and the rules are artificial lures with barbless hooks only and you can keep any over 14 inches. Those trout are real wary.
Another cool place, but easy 4x road, is Coyote Flats that runs between Bishop and Big Pine.