I have 24" echo timberwolf with a 150ish dollar alaskan mill on it. I use it a fair amount. I mostly cut wood for small furniture and craft projects. I've done some for around the homestead work but usually I just find other sources for this. A few important things.
1) you have to get a ripping blade
2) get a better chainsaw than you would think necessary, but you don't need a 1000k stihl.
3) Let the saw cool by running a bit with no load
4) cut slower than you think, don't force the saw.... a lot. Mostly what is slowing you down is the ability for the chain to remove the saw dust.
5) take your time to get the first cut nice and flat
6) You WILL hurt your back, it's really tough to be bent over pushing for a long period of time. If you can get the material to a comfortable height it really helps. I never can!
7) Making dimensional lumber is almost never worth it financially, even though it's very emotionally satisfying (gas / bar oil / ripping chain / trip to chiropractor / etc.)
Eventually you will just give up and start looking at small bandsaw mills. Which probably don't make sense either but... if you have the money??
9) Do you have a planer? I end up planning almost all the wood I cut. The chainsaw just doesn't leave a very finished surface. Maybe for garden beds?
10) You are probably going to do it anyways. So have fun and be careful.
Oh.. one more thing. If you are homesteading you need the chainsaw anyways so get a decent one for ripping but also get a smaller 14" inch electric chainsaw for smaller general work. I use my electric ego 90 percent of the time, it's amazing not to have to pull that cord every time you want to start it.