This film is absolutely awful, and I suspect that whoever wrote a review of it that described it as "one of the best horror films" they'd ever seen was likely one of the filmmakers.
Sitting down in the theater, I felt myself writhing in my seat with boredom ten minutes in. The plot isn't worth describing because the film was intentionally designed in such a way that the filmmakers could say "well of course the plot wasn't good -- we weren't trying for that!" Bravo to them for their success in wasting the time and energy of their cast and crew to produce something of zero merit.
Frat House Massacre is mostly about manifesting scant ghosts of scenes that are meant to act as the linking fiber between a handful of hackish and meaningless death sequences. Literally every death sequence was EXACTLY the same: You saw a closeup shot of some weapon being swung, a closeup shot of a body part being run through and then a closeup shot of blood pouring out of the mouth of the victim. Repeat ad nauseum. I'm not opposed to the meaningless horror film, but if your story and characters have no value then you must make up for it in the creative ways that you present gore. This film did not achieve that.
Another peculiarity of the film that makes it particularly unwatchable is that they clearly had one actress who agreed to get naked so she's naked multiple times throughout the title. This is funny at first and then eventually grows grotesque. Rather than feeling turned on, you mostly feel bad for the girl who comes off as being uncomfortable and being taken advantage of by the filmmakers. Speaking of nudity, I just can't shake off how often the film subjects the viewer to "back sack," where the male genitalia is viewed clearly and well lit from behind and at a low angle. Everything about the sexuality of the film comes off as filthy, exploitative and patently homoerotic.
Ultimately, this film succeeds in being as meaningless as any horror story, while failing to produce a single iota of merit. I know the filmmakers are likely the sort that will grin smugly at this assessment: "Mission accomplished" they'd think -- and we are all the worse for their selfish, ironic masturbatory presentation.