Has anyone been to the BED AND BREAKFAST BALCONE FIORITO in Menaggio, Lake Como? Is it necessary to have a car? We were not planning on it. Are there restaurants near by? IF we do need to rent a car is it nice to have one in lake como?
I don't know the answer to your 1st question because I don't know the exact location of the B&B.
I can definitely answer your 2nd question:
"IF we do need to rent a car, is it nice to have one in lake como?"
No, it's not nice to have a car in Lake Como. The places you want to go, and the views you want to get, are all most easily available by the public ferry system that operates between the principal mid-lake villages such as Varenna, Bellagio, and Mennagio.
Rick expresses a strong opinion on this, here's what he says about why you don't need to drive at Lake Como, from his book Italy:
"With the parking problems, constant traffic jams, and expensive car ferries, Lake Como is no place to drive if you don't have to. While you can drive around the lake, the road is narrow, congested, and lined by privacy-seeking walls, hedges, and tall fences."