with the right approach and good salesmanship, you could certainly make a go of it. There are literally hundreds of business models out there, all with their own drawbacks and advantages. I do sell some lumber, but it is incidental to my primary work. since much of my inventory is used in my cabinet shop, I am often able to capture the full value of the log in the form of finished product. That is, every log has a base value, and with every step in the processing that value increases.
I try to capitalize on the total value of the logs I get in. Depending on your business skills, it could be very profitable.
Instead of dropping $$ into sawmills, edgers and log handling equipment, you would be investing in secondary processing equipment like Kilns, planers, moulders etc. I would think that the right person, if he had a few good mills nearby, could do very well buying green lumber, processing it and selling it into various markets. actually selling the finished lumber almost resembles work and is no fun at all. making lumber (stacking, air drying, kiln drying, planing, etc.) not nearly as much fun. Most people get a sawmill with little or no thought as to what to do with the lumber beyond what they themselves might use.
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