I don't know anything about what it takes to run a pool hall. There seem to be lots of threads in here with all sorts of good advice on what it takes for them to succeed and lots of good ideas.
But, in terms of what it takes to open a small business and succeed:
1. A lot of people that love cycling want to own bike shops, think it would be fun. Folks love shooting, think it would be fun to own a gun shop. I remember asking a doctor, who was very well capitalized, what his CPA said about whether he should buy a local bike shop that was for sale. His CPA said, "Doc, why don't you just buy a bunch of really nice bikes and give them away if biking is your passion." Almost all "passion into small business" ideas fail, even with the necessary funding to start them. Most folks overestimate, and I mean really overestimate what the real demand will be for the product, and underestimate, and I mean really underestimate, what they need for proper capitalization. Then there is all that goes into the nuts and bolts and tricks of the trade in operating the business to actually scrape out a profit. Of course, without the passion you are sunk as well!
2. I'm afraid you have your answer for now. If you don't have enough collateral to start up and you are even thinking of talking credit cards for financing (last few folks I've known that relied on credit cards for financing their ventures or keeping them going in the first year or so, or later, ended up in bankruptcy court) you just are very unlikely to find any source of funding.
3. Totally agree with the real estate suggestion. May not always be practical in some locations for lots of reasons, but even with a long term lease you add lots of risk elements even if you have some success at your location. But leases with options to buy can be good, etc.
4. Practically speaking, I'd guess your only real shot is convincing folks and yes, it is likely friends and family who won't mind losing 100% of their investment, to loan you money and be prepared, even if you get that as a source, they are likely to have to be unsecured because the bank will want to be first and may not allow any other secured debt on the radar screen. Most folks don't like the idea of being unsecured.
5. It can't be absentee - you just add another layer of cost it will be hard to cover.
Starting small businesses is tough, and it's dog eat dog out there.
Again, I know nothing of pool halls, but boy I think it would be tough to make a splash and create buzz with a room that is all second hand and potentially a little tired looking and if the "room" looks bright and new the contrast with all "old" stuff wouldn't be pretty - but that goes to demand and the type of niche you are looking to fill in that area and your target customers.
I guess maybe start the long, hard trek of putting money away, chipping away at any credit issues and see if the dream is still a "go" in a year, or five, or ten? Starting that process will tell you in a fairly short time whether it's something you really want to do - if those savings start going other places either by necessity or choice, the dream may not be as strong as you think.
Everyone should have dreams and goals, so I hope this works out if it's something you are really working towards.