Yes, I know you knew that. :-)
I haven't got highlighters yet - one problem with working until 6pm is the stationery shops are shut when I finish. However I'm off Thursday, and I won't need them until then, so it's moot. I just my red pens tomorrow - and I have them already.
Why do I need highlighters for editing? Well, so I can go through and highlight each type of problem a different colour. That will make it easier to go through and edit.
As I said I imagine that each chapter will take me two or three days to edit in the round. The longer ones may even take four - but hopefully not too many.
I've been re-reading "Self-Editing for Fiction Writers" in preperation, and I suspect that this short novel may well end up even shorter. Ah, well, if it ends up being a long novella it ends up being a long novella.