It takes about 2 weeks to get approval for an app for the App Store. You can sign up now and get all the registration stuff out of the way. If your developer has a Mac, it's likely not going to cost any more to develop an iPhone version first. It will likely be developed quicker, depending on how complex the app is. The UI layer stuff, if standard, should be very quick.

I would think that even with low sales you'll have a much higher and faster return on the iPhone. Is anyone actually making any money with Android apps?

If this is an Android-centric app or there's already a healthy competitive landscape on the iPhone, then go for Android first. Otherwise, I don't see any benefit of doing the Android version first. In fact, if it's a good idea, someone may very well implement an iPhone version after hearing/seeing your Android version - before you get a chance to do it.

BTW, when hiring a developer, the most important thing to see is other work they've done. A resume or talk about what they've done, in the end, doesn't mean shit. Neither does where they went to school. Or if they went to school.