I'm assuming JMRI would be setup the same way but in the computer world a terminal server works like this:
<Server with whatever programs you want available>? -- CAT5/6 --?<Very basic computer/terminal PC> This system boots and logs in directly to the terminal host<server> and runs the programs available on the server.?
That's a very different notion of a terminal server than the support in JMRI uses.? ?JMRI's notion of a terminal server is based on a network connection to a device that then contains the serial port.? ?See? (which contains the phrase "Not to be confused with Terminal Services" which is the Microsoft name for what you described).
I happened to have terminal server devices laying about (I used a Lantronix ET8P), and that fit my purposes nicely.? ? Bob was kind enough to port the serial port access of EasyDCC to use a network connection (and the terminal server took care of all of the serial port configuration).? ?It hosted both RS-232 and RS-485 connections and allowed me to not use dongles from my laptop to connect to the layout.??
Today I'd look at the Raspberry Pi to host the connection to the layout, and then use one of the variety of means by which you can communicate from the RPi to your machine elsewhere.? ?Even if you use the RPi for nothing but a serial port to TCP gateway and use the terminal server support in JMRI.? ?Or host JMRI on the RPi, which is probably easier.? ?