I've searched just about everywhere for this issue:
emuglConfig_init: blacklisted=0 has_guest_renderer=1 to try and solve it. Could someone shed some light on this?
You need to check whether if there is a pending update under Tools -> SDK Manager -> SDK Tools. This error sometimes occurs because of out of date components like 'Android Emulator' or 'Android SDK Platform-Tools' components. Just update all pending updates, then Invalidate Caches & Restart, then try to create a new AVD.
In the AVD Configuration, under Emulated Performance, change the Graphics to Software.
I was having the same issue before, and I can't say I truly understand exactly what the issue is, but it has something to do with the computer's graphics card. AVDs default to using the onboard card, and this change forces it to emulate the card instead.