ERROR 4005 after liquid damage

This is a belated answer so hopefully it can be of use to folks who search for and find this question.

iTunes Error 4005 can be NAND or SDRAM related. Generally speaking, you should closely inspect and probe the circuitry that was the most visibly damaged by the liquid. If that doesn't allow you to identify the problem, then take a logical approach and start checking all of the voltage rails generated by the PMIC and then the BB PMU. Usually that will give you some leads.

If the power side of the board is good, then start checking the I2C & RESET lines. Not every logic board is repairable and you have to learn when to call it quits. Every board can be a learning experience but at some point you have to focus on repairable devices.