- Two former paranormal investigators decide to take one final job. Their experience quickly goes sour, leading to many shocking revelations.
- In some black void, a square of light appears and showcases the silhouette of some ghostly figure.
Sometime later, after awaking from a nightmare, a teacher named Aiden gets informed by his colleague, David that they can make some money doing a paranormal investigation job at a local haunted house. It is made clear that they have done this before to scam people out of money and Aiden feels very conflicted about it. He eventually agrees to fund his drinking habit and they start their investigation.
Things seem odd from the start with Aiden suffering hallucinations of a figure in a white mask and finding a box of old film reels. He continues to have strange dreams and occurrences while David seems to disappear for days. He continually sees glimpses of another version of himself as well as ghosts following him. He can't seem to break through to his argumentative wife and this allows him to become obsessed with finding out more about the house.
The strange occurrences lead to Aiden waking up naked in the forest and eventually, communicating with the spirits of the house. He realizes that the house they are investigating is possessed by some sort of demon called The Pale Guest that keeps former residents around as ghosts to feed off their energy. He reads that he can use the film reels he possesses (which contain footage of the suicides from the house) to make the ghost accept their status and move on to the afterlife.
He finds a very shaken David who says that he found footage of the deaths of the family that hired him to investigate the house. Aiden tries to tell him about The Pale Guest but David doesn't want to hear it. Aiden ultimately tricks David into assisting him in trying to fight the Guest but David takes the wheel and crashes their car. Aiden and David have a chase with The Pale Guest that traverses the afterlife, ending with Aiden standing up to the Guest, causing it to disappear and surrender the film reels.
They show the ghosts and make them pass on but Aiden tells David to make sure that no more ghosts remain since the Guest can return to feed if any remain. As he does, more footage rolls revealing the suicides of Aiden and David. Aiden weeps before disappearing for good. David returns to find the footage destroyed by the projector. He wanders around looking for Aiden but can't find him. Sometimes later, a paranormal investigator is being interviewed about the haunted property, she marks that residents often hear a voice saying something similar to "Aiden".
The house is shown one more time with The Pale Guest appearing in the window.
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