We went down for the August races for 6 years in a row but have not been in a few years, and not to the June race. If you are still lucky enough to get tickets and book somewhere, I would go that route. We stayed in Ann Arbour, Mi at the Hampton Inn, Comfort Inn..different one each year..not sure what the rates are now but it used to be not so bad. If you do stay there be sure to leave around 6am to get to the track. Once you get parked you can relax and check out the vendors across the road(or go back to sleep!) but waiting in line miles from the track really sucks! Take a portable barbq and enjoy tailgating afterwards as well..the first year we went we tried to leave right away,,what a mistake that was. So after that we just relaxed with everyone else and left an hour or so later if you are in no rush and stay the Sunday night as well...
Have fun, it's a great experience for sure!