My hubby, more ambitious than talented, made me a Murphy bed. We ordered the hardware from Rockler, about $300, and made a queen size bed. When it's up I have a piece of "headliner" on a large roll above the bed case. When it's down it's my design wall. If you're going to have the face of the Murphy as a permanent design wall, it doesn't have to be made from fancy plywood. It's perfect for the guests that are here about 10 times per year. It operates very easily because of the pistons in the hardware. And it locks in place. It's a low bed, about 12" off the floor.
One drawback to the Murphy bed --- it is challenging for us seniors to make it up, but easier than bunk beds!