Good luck buying a sawmill.

Every yuppie that fancies themselves a handyman and every landscaper looking for more side gigs had that same idea and sawmills are back-orded as bad or worse than outdoor recreation items.

Furthermore, milling lumber is one of those things that only pencils out to be economically in the black at very large scale or at very small scale where you focus on a high margin niche.

Then there's regulatory compliance...

This. Good luck getting your hands on a Miser right now.

They're not operating at cottage industry scale, they're talking hundreds of acres I believe. Those portable mills are more of a cottage/craft industry (I had one come and mill some of my trees a few years ago)

I suspect owning a mill exposes you to additional risks as well. I know here in Canada a bunch of the softwood mills in B.C. closed a decade ago, I suspect it's big time boom and bust and now you've got expensive equipment you're in debt for...