There are several places along FR 2730 where you can pull off and camp. The road was very accessible, high clearance not required. We found a large pull off with several established fire pits. It's absolutely perfect for a group campsite. I imagine it will be a busier spot in the summer, but we couldn't find a single other person within miles of us in early May. To get up to the group camp site, you may need higher clearance (most SUVs should be fine) and 4wd/AWD, as there is a short rocky section that might cause some issues for FWD/RWD.
Got a little chilly at night with winds whipping down through the area we were in, but overall very peaceful. You can see Mt Hood from the campsite through the trees, albeit it is decently far away and is subject to the visibility at the time you visit. We were able to see Mt Hood just before sunset, but couldn't see her at all the following morning.