sometimes the imperfections add to the beauty of the blade. i have seen one blade where the maker hammered the carbon back into the steel as he forged it, gave the sword a unique aged look while not harming the blade.
“I scrounge, therefore I am” For low cost I would check out the salvage stores, scrap yards, and Goodwill. An old hair-dryer, some steel pipe, and an old BBQ could be the start of a forge. Many plans for coal forges can be found on the internet and in books. Good luck, be safe, and have fun!
Ambitious! From experience, I know it is hard to find larger pieces of Rosewood without checks and cracks. I had to go through a whole pallet of Rosewood planks to find an non-cracked piece to make a sword blade out of.