What I need to do is examine each parcel feature in ParcelsByFeeder and do further analysis on that parcel (again, a polygon feature), such as examining its acreage, intersecting with wetlands layers, and so on. Unfortunately, I cannot find any documentation which shows me have to loop through a featureset and examine each feature within. Should be simple, eh?
This should be able to be done using python and arcpy. Have a look at the search cursor:
SearchCursor—ArcGIS Pro | Documentation
Have a look at SHAPE@AREA. This will be in the units of the project of your data and can be re-calculated to acres.