Based on my research it seems like with a little rehab and managing a short term rental effectively, short term would likely cash flow more in a market like Tampa. 

As for doing work yourself, you are a high paid SW engineer.  

You just have to ensure that the mortgage balance is not higher than your offer; otherwise, the seller would have to come up with money to close, which is highly unlikely.

Also, I would highly suggest that you go in person with your application to the Municipal Building in Center City, it will take over 5 weeks if you mail it through snail mail.

Due to the high costs in San Diego and current interest rates, I would most likely only be able to put up to 10% down.

Hey Robert, high appreciation will bring you the biggest returns. 

Hey BiggerPockets Community,I'm a beginner in real estate investing and looking for some guidance on the most effective way to invest and generate cash flow, particularly in the New Jersey area where I reside.

The electrical I am in the process of lowering all the outlets to the same level since 2 of them are about 4' high.

I would highly suggest that you also get involved in local real estate meetups.

Interest rates are high today, but do I wait and buy when rates drop or wait when prices jump?