The After Repair Value is $180You borrow $120 at a high interest rate from somewhere, lets say a hard money lender, who charges a high interest rate on a short term loan.For simplification purposes, lets say the payment to your hard money guy is $1 a month and it takes you 5 months to complete.

But in California, a person/company can not charge that type of % and would be considered predatory lending and is illegal. 

Rarity is the amount of emotion that people get when they see your post.

What is a reasonable fee to charge? 

We'd keep a realtor on to fill the vacancies, but we'd save 8% of the property management fee as well as any BS charges they they charge us.

So if market rent is $1500 you charge the tenant what the market rent is.  

Some softwares provide more than what you need and they charge for it.  

Add up 3 months of mortgage payments, taxes, insurance, utilities, property maintenance, $2,000 in repairs, and if you're using a property manager... they're probably charging you something for tenant placement.This really blows the "infinite rate of return" out of the water when you have to keep $5k liquid for reserves at all time.

Why wouldn't every landlord just charge for vacancy with unruly tenants then?

Not looking to get out of paying a commission, just wanting to make sure if it doesn’t sell for what I want in 90 days, I can re-lease it without having to pay a commission other than the small fee they charge for placing the tennant.