As far as lodging, you probably have two options: (1) there's a state park on the southwest side of the lake where you can camp, and (2) there are several motels in Montivideo, and possibly some in Appleton, Madison, or Dawson. A third, more remote possibility (only because it takes more time), is to find a farmer who will rent you space to park a trailer or camper.
As for hunting, you have three options: (1) the state (DNR, I think) rents blinds on the west side of the lake on a daily basis; you're very close to the water and will probably get some shots if there's a west or northwest wind, (2) the state also owns land about six miles west of the lake (west of Highway 40) that you're free to hunt on; some of this land has ponds that have ducks, at least for the first weekend, and (3) probably 95% of the surrounding area is farmland; a few of the farmers have signs advertising blinds for rent, many more are willing to let you hunt their land if you ask politely (you can use a portable blind if you want, or just hide in a fenceline), and at the end of the day stop by and chat with them for a bit and offer them $20 or a bottle of hooch, and you'll be welcome back anytime.
In truth, the hunting in the area is not as good as it was even 10 years ago. Ducks are usually decent, especially the first weekend. After that, the goose hunting tends not to heat up until the last week or two, when more of the Canadians (geese, that is) have made their way south.
Finally, almost no one brings a boat. A dog would be much more helpful, as the potholes are generally quite small. But if you're primarily going for ducks around some of the bigger ponds, and you don't have a dog, a boat would be a good idea--you do not want to walk into those ponds in waders. That rich, submerged farmland is very nasty to try to walk on.