The SLAM! Green Room

First of all, I would like to say: This is an EVIL prompt! Congratulations, T-Belle

Ok. I know, this is a stupid question, but are there any rules about homophones/homograms (is that the right word)?

I mean, for example, if I used read (pronounced reed) as one of my words, would there be a problem if I meant it to be past tense, which is spelled read but pronounced red? I mean, does it matter how the word is pronounced if it's spelled like the word I'm using?

And what if I wanted to use right? Could I use write, which is spelled different but pronounced the same?

And I assume, because you didn't say anything about it, that meter doesn't matter.