I watched a video where someone showed that changing the filetype to m4v made importing possible:
https://www.youtube.com/watch?v=GPkYdPpalUI
This method doesn't work. Same import error as m4a. Just a heads-up if anyone else is searching through and finds this thread.
EDIT: It looks like I'm having trouble because Reaper isn't grabbing the codecs from VLC like it's supposed to. Otherwise, this method should work/is working for other people.