In any case, tragically it is a necessary evil that you should not forgo or skimp on in any way. Publishers can smell an unedited story from a mile away, and if you think that you can do all of the editing yourself, then you've got another think coming. The human brain is a magnificent creation, but sometimes it does things a little too well. You won't believe all the mistakes, repetitions, inconsistencies, etc. that you will miss in your own writing because your brain knows how it is supposed to be.
And if you think that one round of editing will catch everything, or at least enough to make your story presentable, you are just plain wrong. After about five rounds of edits, I still found a mistake in one of my short stories, so imagine how many I missed in my novel.
Now there is a sad fact that professional editors and copy editors are not cheap or free, and I am particularly lucky to be married to my editor, but don't despair. While a writer friend or contact may not have the time to edit your entire 50,000-100,000 word novel, maybe you can work out a system to edit each others work on a regular basis.
What about the love? Well, here's what I have to say about that: love the fact that editing makes your writing better.
Bottom line: you may hate editing, but you'll hate it more if you never get that big advance from Tor or if your book gets published and someone points out a mistake to you (trust me).
I Write, I Edit, I Write Again. Witness!
Were making better words, all of them, better words...