Well, culthero Monte Hellman did some interesting stuff after the horrible, awful Part 2 of the Silent Night Deadly Night franchise. I knew nothing about the cast when I started watching 'Better Watch Out'. Then the first (dream) scene made me realise it's quite Twin Peaks-ish. The next surprise was the Twin Peaks All-Star cast with Richard Beymer and Eric Da Re. So it's the Twin Peaks vibe (tons of mumbo jumbo scenes) with Ben Horne and Leo Johnson plus the main character's name is Laura? Wow, hold your horses Mr. Lynch!
Hellman tried to reinvent the franchise with a step to 'psychological horror' from 'ordinary slasher'. It's not perfect, sometimes it's painful to watch (especially if you don't fancy the Twin Peaks/David Lynch vibe), but nonetheless a refreshing approach after the garbage 2nd part of Silent Night Deadly Night.