Loki's cunning would make Harry more street - smart. Harry would learn to look at situations from multiple angles and not trust everything at face value. For instance, when dealing with the Ministry of Magic, Harry would be more cautious and question their motives more often.
A potential guardian could be Sirius Black's spirit. Even though he died, his love for Harry could be so strong that it allows his spirit to act as a guardian. He could appear to Harry in times of need, give him advice, and even use his limited spectral powers to protect Harry from minor threats.
Loki is a powerful Asgardian with abilities that are more in the realm of the supernatural in a different way than Harry's magic. But Harry has a strong will and has faced some extremely tough opponents. In a fanfiction, if the writer decides to give Harry access to some of the most powerful and ancient magic in the wizarding world, he could be more powerful. For example, if he could use the magic that created the Hogwarts itself, he might be able to stop Loki quite effectively. Also, Harry has the support of his friends and the entire wizarding community behind him, which could give him an edge in power.
Loki's mischievous personality could make Harry more adventurous. Harry might start to take more risks in his magical studies and in facing Voldemort. For example, he could be more willing to try out untested spells or strategies.
It's hard to say. Loki has a wide range of magical abilities from Asgard. He can shape - shift, create illusions, and has a certain level of telekinesis. However, Harry Potter has the power of love and friendship on his side, which has proven to be a very strong force in his world. Also, Harry is very skilled at defensive and offensive magic within the wizarding world. So it really depends on the situation.
The relationship could be quite complex. Loki might see Harry as an interesting project, someone he can mold to his own liking. Harry, on the other hand, might be initially wary of Loki but gradually come to respect his skills. They could have a mentor - mentee relationship where Loki imparts his knowledge but also tries to influence Harry's actions.
Well, in the world of fanfiction, just about any concept can be explored, so it's highly likely that there is a 'harry potter is loki reincarnated' fanfiction. Writers love to mash up different universes and characters. This particular concept could bring in elements of Loki's mischievous nature into Harry's character, creating a whole new set of adventures and challenges for him in the Hogwarts setting.
There are definitely some out there. These fanfictions often take creative liberties. For example, they might have Harry being reincarnated as Loki or some sort of magical crossover where Harry gains Loki - like powers. It's really fascinating to see how different universes collide in these stories.
Perhaps Sirius Black could be Harry's magical guardian instead. In the original story, Sirius had a strong connection to Harry and a great desire to protect him. Even though Dumbledore was a major figure in Harry's life, Sirius was his godfather and had a natural claim to the role of guardian.
It could be his mother, Lily. Her love was already a powerful protection for Harry, so in the fanfiction, it could be her spirit acting as a guardian angel, using her love to shield him from harm in a more direct and continuous way.