I just saw a machine-translated text that was given to a translator I know for "post-editing". Basically you have to delete everything that the machine translated and do it all over again.

If you want to offer that for 1 cent per word you are going to get exactly what you are paying for. 90% of qualified translators are bad enough that I would never let them translate anything for me. I cannot imagine the remaining 10% will work for 1 ct/word.