Pranks (aka The Dorm That Dripped Blood) (1982)
Pranks (alternately released as The Dorm That Dripped Blood, therefore it was a box-office flop twice over) is a prime example of how quickly the slasher movie degraded from even such humble budgetary constraints as those posed by Friday the 13th. More talented film makers could use their creativity to make a memorable horror movie; however, late model slasher directors couldn't be bothered with such things. Showing any talent in front of or behind the camera was deemed unnecessary; after all, all you'd need were some young people unafraid of losing their clothing and several buckets of fake blood and the rest would take care of itself. Initially, the box-office returns backed them up, but things went south very quickly.
In this case, we have a group of college students who, during a break, are assigned the task of cleaning out one of the dormitories before its demolition. Unfortunately, there is a killer afoot, wielding various carpentry tools, This is about as deep as things get here. We have a cast of flat performers (including Daphne Zuniga who went on to bigger and better things) who spend the endless runtime running about the empty building calling out each other's names.
Nothing else of interest occurs...at all. There is some half-hearted attempts to muddy the waters and generate suspense about the killer's identity, but it matters not. Considering how shoddy the on-screen results are, it's hard to believe it took two directors and three screenwriters to come up with it.