Automatic transmissions run on Pressure, reverse takes the highest pressure, 175+ PSI for Reverse.
So when automatics starts to leak pressure internally you lose Reverse first.
Yes, it does read like you have a larger internal leak so can't build up enough internal pressure.
There are test points on the outside of the trans that can be hooked up to gauges to test where the problem might be.
But from your description it would probably be a waste of money to test it.
Best bet for quick turn around would be to find a local transmission shop that will sell you a rebuilt model with your trans in exchange, so they can rebuild it and sell it to the next guy that needs one.
You also need to get a new torque converter.
You could just replace the Valve Body and gasket, that can be done in the vehicle.
No special tools are needed, and it "might" fix the problem, might being the key word there.
There are many many 5R55E(or 5R44E) transmission rebuild articles out there on the internet.
Read some and see if it sounds doable for your skill set, trans is BROKE now so you certainly can hurt it

And it is good to learn new things