I can't speak 100% to the R730 but I have run a P4 and P40 in a R720 without any issues power and cooling wise. I see that /u/marc45ca mentioned cooling issues, but I couldn't find anything.
That said, the P4 provides a low bar to entry for vGPU. The P40 is the P4's much larger brother. There are licenses that are necessary to "activate" the drivers for both but...
I will admit, neither of these cards are ideal for AI, at least in my testing. They do well in 1080/1440p gaming and accelerated remote desktop, with the P40 coming out on top but at a significant power cost compared to the P4.
Yet another vote for https://github.com/tubearchivist/tubearchivist I've been using it for several months and it's fantastic.