This low-budget slasher film centers on a group of college students working to renovate a dorm in Southern California when they encounter an unknown killer who interferes with their plans. “The Dorm that Dripped Blood,” released in 1982, is not among the top tier of slasher movies, and its $90,000 production cost (equivalent to roughly $360,000 now) might suggest a certain level of quality, but it’s actually quite…