I'm working as a writer on Elance. Guys out there look for rewriten articles and usually pay $1 per 500 words or less for this service. Both rewriting and spinning can be bad and good depending on the quality level.
When spinning there are lots of basic mistakes that you even don't notice and it's probably to use for Web 2'0s that are backlinks for the backlins of the backlinks to the baclkink of your money site if you get the point.
Rewritting is actually what regular writers do. They get couple of articles adjust them, add or delete something check it on copyscape and voila. I'm talking about writers that have a rate of $2.5 - $5 and you can still find some prety damn quality writers in this price range. This content is even good for your money site.
I know this because I started at 2.5 rate per 500 words and now I'm at $5 per 150 words, but the quality of my articles is still the same. It's best to find unexperienced but quality writers from Europe underdeveloped countries like mine (macedonia).
When it comes to QUALITY writing it is the BEST to write your own oppinion because this will bring people back and make them wanna subscribe or find writers that are passionate about the niche.