How much to put down for first short term rental property?

[Sean Conroy]

First time poster here!  I've been working through all the Bigger Pockets calculators and I need help answering one more question.

I'm looking at scooping up a mid century condo in Palm Springs, which I would then enjoy myself while renting out about half the time on Airbnb (when things safely open back up again, of course). 

I've worked the Rental Property Calculator over and over and, of course, Cash on Cash return is higher if I put down LESS cash. (Duh!) But if I have have the cash, should I put more down *to avoid paying more interest over time*? 

I hate the idea of paying interest to the bank if I have the cash - but on the other hand, I realize the point of short-term rentals is to let others pay that interest for you - and then use that cash in other investments that yield a higher rate of return than your mortgage interest. Is that right?

Let's use 220k for purchase price, and 40k down on the low-end, 80k down on the high-end as an example.

Thanks in advance for your help!