First a little background on me. I am a first semester masters student in applied mathematics who is on the wait list for a decision on admission to the PhD program. I have reached out to a specific professor in the department inquiring about doing a research project with him. First, he told me to wait until I receive my decision on the PhD program. I followed up with him about a potential research project over the summer after not receiving a decision for 4 months now and he suggested a masters thesis and to reach out to my advisor. It really does not seem like this professor is to keen about doing a research project with me (maybe I'm taking it too personally). Anyway, does it make sense for me to work on a masters thesis when I am set on trying to get into a PhD program? I also asked my advisor this question but he hasn't gotten back to me yet.
My goal is to be able to be admitted to the PhD program during my second or last semester of my masters so I can get potentially funding and a TA position for those semesters. What do you guys think?