I’d like to increase my cash flow and one thought is selling them on a wrap.My current P&I payment is $280/month with 25 years left on my mortgage.If I do a wrap at 30 years, 7% the P&I payment would be around 980, giving me $700/month of cash flow and no other costs.Sounds simple, but the devil is in the details.

If no, sell it.

Considering your goal of house hacking a duplex, while FHA loans are common for first-timers, there are alternative financing options to explore:Conventional Loans: Need more credit and down payment, but offer flexibility. 203K Loans: Ideal for fixer-upper duplexes, bundling purchase and renovation costs.VA Loans: Great for vets—no down payment, competitive rates, and no mortgage insurance.Portfolio Loans: Private lenders, good for unconventional income or credit histories.Hard Money Loans: Quick, high-interest, good for investments or major renovations.With $30,000, mix it up—use it for a down payment, maybe pair with a conventional or FHA loan.

There's no reason why a good builder can't get it done in 4 months.

I just renovated a 2 BR / 2 BA single family built in 1900 and it was 55K.Also, there's no such thing as "ARV 200-300K" - you need to conservatively estimate the ARV and come up with a much narrower range.Finally - are you local?  

This is low-hanging fruit for AI, because there is no physical work.

If the lender defaults, will the fact that I purchased the loan as an individual with no licenses compromise my capability to collect/foreclose? 

It's no guarantee but it's a good place to start.

My parcel is one of the raw land parcels, so no cash flow for several years

This allows you to ladder investments if you're saving up for a big deposit or if you just want the option every few months to extract principal or reinvest.