In my experience, development is a time consuming and oversight intense process.

Adjusting seller expectations will have you walking a fine line between reason, and emotion. 

Any comps that are less than perfect must be adjusted. 

I figure this would be much more beneficial to have the plan laid out for the investor and be able to adjust it, rather than start from scratch from day one.

., anything affecting the profitability of the project, Will there be an adjustment made to the profit participation of the investors?

Also, the argument has been made here on the forums that the "1% rule" is geographic - it applies in some areas, in others it is more of a guideline, and 1% just isn't common here without some intense amounts of luck.  

I figured a practical use could be to have them analyze markets, find contractors in your area, find comps, and other data intense jobs.

@Alma Mills House rules for bank is 43% of your gross income, less monthly expenses can go to housing, banks established that for a reason, to keep them out of trouble, adjusting your criteria might be possible, but you aren't that as secured as a bank.

How many people are actually qualified to manage the contract, not to mention the intense negotiations that can sometimes follow once a property is under contract?

I am in no way proposing to adjust the deal acquisition / reposition based on a 60% occupancy.