I think this spreadsheet is designed by house flipper. To make ROE >20%, you can simply choose to use interest only payment. And to make “Cash on Cash” number look good, you will need to put down less down payment.
So it gets you into the optimal case ONLY IF you are holding the property for short-term (and be able to sell it with appreciation) and almost meaningless if you plan to hold it for long-term. Personally, I ignore all the “goals” stated by the spreadsheet, but I do find some of the calculation useful.
