Varenna - day trips

Tami, Varenna is certainly one possibility for a home base, but I'm not sure that a rental car would be necessary. From Varenna you could easily travel by Ferry to Bellagio, Menaggio or other points on the lake. Having a rental car also comes with a few "issues" - each driver will require the compulsory I.D.P., you'll need to be vigilant to avoid ZTL areas and consider the high fuel costs, CDW, parking, tolls, etc. Another location you might consider is Stresa. While there you could tour all or some of the Borromeo Islands or take the Cable Car to Mt. Mottarone (great views if the weather is clear). You could also take a day trip on the scenic Cento Valli Railway to Locarno (Switzerland), returning by boat in the late afternoon or early evening. While there you could explore the city, visit the incredible Madonna del Sasso Franciscan Monastery or take the Cable Car to Cardada. There's a Hotel & Restaurant right next to the Cable Car station with an outside patio, and it's a fantastic place to have lunch and a "cool one" while watching the Paragliders sail past the balcony. You could also do some light hiking before heading back to the city. Happy travels!

Thanks, Ken - all great ideas! I have looked at apartments for rent in Stresa, and there don't seem to be as many. I'll check out your other suggestions. A friend has given us the gift of flights to/from Milan arriving Aug. 6 and returning Aug. 17th. It's up to me to figure out where to go & what to do! Any suggestions are welcome!
Thanks!

Since you are considering Stresa, you might want to look into this. We stayed in Baveno, a few minutes (10?) up the road from Stresa. We were looking at hotel websites and found one that listed apartments, in a separate building, as well as the hotel rooms. We had a nice, economical base from which we visited the Borromean Islands, Locarno, Stresa, and some other places. I don't recall the hotel's name, but it was at the shore of the lake. Baveno isn't all that big, so I think you could probably figure out which one it is. One more clue from the (very) dim recesses of my mind - - the name might start with R.

http://www.mariashouse.it/en/
Try above for an apartment in Varenna. You can easily catch trains from there to Switzerland, Milan, etc. Varenna is excellent, we were there last August for 7 days and loved it. Easy to do all of what you want to do without a car.

http://www.tripadvisor.com/Hotel_Review-g187847-d238559-Reviews-Hotel_Residence_La_Luna_Nel_Porto-Stresa_Lake_Maggiore_Piedmont.html Here is a nice place in Stresa with beautiful views of the lake and only a block or two to the main piazzas, the lakeside promenade, the lake ferries dock, the tourist information center, and the stop for the Alibus Airport bus to Milan's Malpensa Airport(MXP). Rick's Italy guidebook has a great section about Stresa describing the all day boat pass and the combo-ticket that also includes the villas on Isola Bella and Isola Madre and has descriptions of day trips from Stresa.

Thanks, Everyone! Really appreciate the suggestions.