Of course we will do all the inspections and due diligence) Th goal is to fix it up a bit and  cash out refinance it.

Figure that out and approach your partner with the goal of education and discussion rather than argument.

The goal of coaching and client is to match what someone wants with what someone offers.

That's my near future goal.

My next goal would be to rent it for that and not take any cash flow from the property yet just keep it in the reserves then try to refinance at a later date or see if the home appreciates enough 

For example, sharing details like an example property address, how much of your own capital you're able to contribute, your goals for the property, and what your exit strategy looks like can all help potential lenders better understand the situation and make informed decisions.

What are your current and long term real estate investing goals? 

A cost segregation study looks at a property you own to breakdown the various assets you purchased.The goal is to increase the depreciation expense by finding assets that have an asset life less than 27.5(residential) or 39 years(non-residential).Whether you should get a cost segregation study done is whether you will benefit from the study.Will you be able to use the added depreciation now or in the near future?

My ultimate goal is to transition into full-time real estate investing.My current home is a 3-bed, 1-bath, approximately 1960 sqft, needing updates.

We had anticipated this number would be in the 80% of the class range under contract.4) In hindsight, we achieved our goal of getting confidence to take the plunge out of state using the BRRRR strategy that many on BP here explain in detail.