paying back an investor/partner on rental deals

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I have an investor partner on a flip house deal that isn't selling after 5 months.  I'm considering renting  it out as a lease option with a sizable option payment (7.5%) plus a monthly rent of about $1,200 for 16 months or so.  That way we could possibly put it back on the market spring of 2017.  The investor has $107,000 in to the deal and the house is worth about $130,000 based on comps.  If I get a mortgage for 70%, I'll have about $90,000 to give back to the investor.  Plus, the property would positive cash flow about $400/month after mortgage, taxes and insurance.  Even if I split that with him to get him paid back sooner, it would take years and we wouldn't have much of a kitty should we have any unforseen expenses.  Short of keeping the house on the market going into a snowy winter, what's the best/quickest path to making him whole? He's been very supportive to date but we need to free this capital up for the next deal.  Any advice?

If it hasn't sold in 5 months it is probably over priced. Have you dropped the price?

If the plan was to flip you should stick with it and not rent the house.  I made this mistake several years ago and now I'm still holding an underwater property. I personally would reduce the price below market for a quick sale even if it means making very little and move on to the next deal. It sounds like you have a good investor and you want to keep him happy.