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48 hours in Iceland—itinerary help

We arrive at 4pm on a Friday and getting a rental car.

Ideally would love to do South Coast and Golden Circle. What is the most efficient way to accomplish this? We have not booked the 2 night accommodations yet as I’d like some input on where best to stay for this itinerary. Where do we start? Where do we stay? What do we do the first night after picking up the car? We return the car at 4pm on Sunday. So we have Friday evening, Saturday, and Sunday morning/afternoon.