Yes you can find but it is a bit difficult, and yes chances of getting distracted are there (coz it will get a little dense when you go downward towards the lake, and you will see multiple traces or pakdandis and its confusing which one to choose 
)
you will find locals there, get their help too. Just find the Landmark (Two Pillars) from that point you can see the lake from top.
And about the space for two small camps, space is very less but you can make some space by clearing some bushes. but be careful, we found a snake there too during our visit.
