Deadly Prey
(1988)

Bad acting, ridiculous dialogue, and women in lingerie for no apparent reason.  Oh, and bad guys with guns who leave them holstered and line up to fight the hero one at a time in martial arts.

Colonel Hogan is training a crew of mercenary soldiers.  He wants them to get experience tracking and killing real people, so they kidnap guys and release them to be hunted down.  They make the mistake of grabbing Mike Danton, an ex-marine.  Danton jumps one of the soldiers and gets his weapons.  Danton goes all Rambo on them, killing them off one by one.

Hogan and Danton had trained together in the military and the bad blood between them goes way back.  The bad guys go back to where they got Danton, and abduct his wife.  Hogan rapes her.  Her father came after her, and Hogan kills the father.  Danton arms for war, and comes back. Another old comrade of theirs, Cooper, is working with Hogan.  Danton saved Cooper's life in Viet Nam, so Cooper switches sides to help Danton.

Together, Danton and Cooper annihilate Hogan's army.  Inexplicably, they leave his wife alone for Hogan to capture and hold hostage at the end.  Cooper is killed trying to rescues her.   She is shot and killed.  Danton rips off the guy's arm and beats him to death with the bloody stump. (Note: I am not making this up, its there at the end of the movie.)  

Thanks Joseph C!