We searched high and low for a murphy bed and they were all prohibitively expensive.  This was even cheaper than the IKEA hacks for a murphy bed and seemed to have good reviews.  It provides the functionality we need so we can have use of our guest room for all but the 2 weeks a year when we actually have people sleeping in the guest bed.  The boxes are impossibly heavy and you'll need to plan for this in the likelihood that your guest room is not on the ground level of your home.  It took one morning for my husband to open up the boxes and carry all the pieces upstairs.  It then took a second full day for him to assemble it.  A third day was necessary to remove all the stickers that were on the wood pieces to make it "presentable."  Its a big project, but overall better than a traditional bed.

Cons: Any piece of furniture piece that we are paying this much for shouldn't be a puzzle, in my opinion.