Before hiring a developer, why don't you try to outsource parts of the dev for example on oDesk/eLance. Granted, it will take you some time to find someone good, but if you give a few small projects to several devs and take the best, you'll get to it. Also, it won't cost $5k/month so you don't need to do consulting for it, but you can just throw the revenues you get from the app at it.

Same for design, and other things that can be outsourced. I recommend reading "start small, stay small" by rob walling, for all things outsourcing and small apps.

Anyways, it's much better to be in your position than just not having any revenue :-) So keep going at it, and keep us posted!