Boardinghouse (1982)

Resembling a cross between "The Amityville Horror" and a Playboy Playmates video, this film tells the terrifying tale of a cheesy video special effect that stalks bikini-clad women. In between scenes of them playfully splashing each other and wrestling with each other's bathing suit tops, they're murdered and/or terrorized by horrific hallucinations. These hallucinations include seeing blood in the shower stalls (while they're trying to lather up), having giant monsters jump out of the hall closet, and seeing their faces temporarily turn into rubber halloween masks.