The NC Working with Real Estate Agents Disclosure describes agency relationships, and I’m sure I signed it without fully grasping how it might affect me.

Perhaps that's how your market operates but suspect that's not the norm as you describe it.

@Roy MitleYes, the old losses will travel through Sch 1, line 5, as you described.

He mentions also in this video that he is researching seriously venture capital funds, which he then immediately describes as "buying alt-coins and other cryptos with 20x returns" but most investments would also lose money, similar to venture capital investing into tech companies.

Rarely do you hear of landlords who fit the profile I just described complain about “unfair”  or “tenant friendly” landlord tenant laws.

@Mitchell HeinThe easiest way to describe the difference isA single stage system is like a pitcher with only a fastball.

The damage here is really hard to describe.  

Make sure they narrate the videos and describe what they are showing you.You can try Zooming, but connection often drops on mobile. 

Navigating these kinds of challenges can be especially tought when you're just starting out as a landlord.From what you've described, it seems you've gone above and beyond to accommodate your tenant's needs.

As @Kyle J. described, you're adding a lot of complexity (and closing costs) on a hypothetical.