Can you sell timber on land you have purchased from Arkansas Commissoner of State Lands after receiving a limited warranty deed?

A limited warranty deed is a deed that is warranted for only the time the seller has owned the property. Normally this is a bank or something like that that has taken over the deed and is only giving notice that the deed is free of encumbrances for only the period the grantor owned it.

So may I "assume" you have done a complete title search (with a title company or attorney) who knows there is no deed issues from previous owners, and have checked there are no issues with ownership of the timber on the property ?

A limited warranty deed is still a deed you are owner of the land, but the seller did not guarantee that the title was free and clear from previous owners before hilm, who may later sue you, claiming they are the real legal owners.