will someone be able to track there ipad if i set it up under my apple id and my sim card?

I am not sure where to begin to try to help you. You say you received an iPad that you did not order nor pay for. You even noted that it was sent to the wrong house and had an address from down the street. So, rather than take it to the owner, you decided to set it up with your information. Basically you have a stolen iPad. I would suggest resetting it as new and send it back to Apple with a note that it was sent to the wrong address and due to circumstances that you did not notice it for several weeks. I suppose that if the original owner found out about this, they could press charges of theft. It cannot be tracked by serial number or cellular carrier. Do this to clean it for return: https://support.apple.com/en-us/HT201351

my family is more "finders keepers"

I am dumbfounded that you would use that as an excuse even though you knew who the intended recipient is. Has it occurred to you that the intended recipient may be out the money? And that is ok with you?

We just had a post this morning about someone having ordered and paid for an Apple device which was either not delivered by Fedex or stolen off the porch. Apple is not accepting responsibility and neither is Fedex, so the person is out $900.

https://discussions.apple.com/thread/251519302?page=1

Really? Finders Keepers? You might want to NOT use that with the police should they pay you a visit. Jails are not really fun places to spend time in.

I'm glad you have realized you messed up big time and you want to do the right thing. You should have wanted to do the right thing the minute you received someone else's package and most assuredly set up an expensive device to use as your own, when you knew very well it wasn't addressed to you, but was addressed to a neighbor down the street.

You have actually broken a number of laws. If I was in your situation, I'd actually hire an attorney and seek some legal advice.