Once the cost segregation study is complete, will I be able to take a full year of depreciation or only a prorated 4 months? 

First - you have to mention what the syndication will do as that will have an impact on how you get taxed.Given that this is a real estate forum, it is assumed that you are investing in a syndication that will invest in real estate.Most real estate syndications purchase real estate in year 1 and have a plan of selling / exiting in year 5 or 7.Often times, the sponsor will get a cost segregation study which increases the loss on the K-1 presented to the investor in year 1.This may be important as it almost guarantees that there will be no taxable income from the syndication from year 1 to the year before exit.If the syndication does well and exits at a price more than purchase, it may result in a taxable income. 

I'm new here and I have spent a couple of years studying real estate investing strategies.

That is sort of the social studies class answer.

Have you completed a geotechnical study & are the soils good?

I’m studying to get licensed soon.

Programs that market themselves as shortcuts often cannot replace the depth of understanding that comes from study, experience, and engagement with the legal framework surrounding real estate.Consider taking time to familiarize yourself with local laws and regulations.

Keep studying and stay creative!

I will study this more.

Read it and employ it.The only thing I'd really hammer home is understand and study the market you want to get into-- meaning visit it multiple times, know the streets, get a healthy understanding.