Lake Como is long and thin, and shaped kind of like an upside down Y, or more precisely, like an armless guy running.
We rented a 1-bedroom apartment at Casa la Rosa, about a ten minute walk outside of town. We were up a slight hill, which gave us a beautiful view!
The apartment was huge by Italy standards - big living/dining/kitchen area and an equally large bedroom. We also had our own washer which was key! Our only complaint was one all too common in Italy: the beds were uncomfortable - lumpy to be specific. This would be the first of many tough mattress experiences as we are in Italy for 3 weeks!
Another added bonus to renting an apartment at Casa la Rosa is that the owner, Marco's, family runs a take-out place in Bellagio. They are super nice people and never charged us full price when we stopped by to purchase paninis, gelato, pizza or wine.
We spent our first day in town walking around and checking out Bellagio and some of the lake shore. Bellagio is a very nice little town, consisting of two main streets featuring lots of restaurants, bars and shops. It gets very crowded during the day - especially on the weekends - when people come to visit on the ferry from either Menaggio or Varenna, but quiets down nicely in the evenings.