I think I'd like to have a sofa bed for my studio space. First off, a couch would be a nice relaxation destination. I could place it facing a wall with a new art piece is hanging, thus becoming a critique couch. Or I could have it facing whatever work I'm currently working on. This would let me really practice my Thinking Artist mime pose. Kidding. Just kidding.
I found a couple different options at IKEA. The one I think I like the best is their Beddinge Havet. With this one, I can add storage under it (I'd probably put sheets, extra pillows and/or blankets), and pick a nice slipcover or two.
For $299.00+tax I'd get a nice place to sit when painting, and an interesting room for guests to sleep in.
For $30.00+tax I could get a storage bin for under the sofa.
For $69.98+tax I could add two cushions at the ends of the couch to act as art rests.
i found a couple slip covers that could be fun. However, it was only in a Flash app on Ikea, so I can't post them.