After his houseboat burns to the water line, MacGyver moves into the loft above the garage of artist Mel Krasney, his new landlord. As MacGyver talks to Mel, a neighbor girl, Kelly Dobbs, comes by. She's an aspiring actress and has a show coming up at a local theater. She and her roommate, Molly, are working odd jobs, and Kelly needs to borrow some money from Mel to pay for a taxi so she can fill in for Molly at a private manicuring job. Mel loans her the money, and Kelly invites MacGyver to dinner before she leaves.
Kelly arrives at the manor of tycoon J. Leland Knox. When Leland's brother Tyler comes in with a contract killer, Bobbie Lee, Leland quickly pays Kelly and gets her out. As Leland and Tyler go into the study, Bobbie Lee hits on Kelly. She turns him down and he takes her business card, which has Molly's name on it. He walks her to the door and she tells him that he can call her. He goes back to the study and Kelly realizes that she's forgotten her sunglasses. As she goes back to get them, she overhears Leland hiring Bobbie Lee to eliminate an accountant that has learned the brothers are embezzling funds from their company's future plan to invest in the futures market. Leland spots Kelly and they chase after her. She manages to bar the front door with a rake handle long enough to leap into a passing truck. Bobbie Lee checks the phone number and address on the business card and promises Leland that he'll eliminate her.
MacGyver takes his stuff through the garage to his new loft and admires Mel's art projects. Mel tells him that he'll introduce MacGyver to his new project, Robo.
Billie Lee goes back to the cheap motel where he's staying with his cousin Willie. He owes his cousin a favor and promises him that he can do the new job and collect the fee.
As MacGyver unpacks, Mel talks about how he used to be a defense attorney until he ended up defending drug lords to cover his expenses, and dropped out entirely. The police call Mel's number and Mel has it forwarded to MacGyver' phone. Kelly was driving and went over a cliff and they need Mel to make an identification. MacGyver and Mel go there and the coroner explains they identified the remains from the victim's purse. They realize that it's Molly, Kelly's roommate, not Kelly.
Kelly is taking the bus and hears a radio newscast about Molly's death and how the body was originally misidentified. Leland and Tyler hear the same broadcast and call Bobbie Lee, demanding satisfaction. Bobbie Lee apologizes for Willie's screw up and promises to take care of it personally.
MacGyver and Mel look for Kelly at her house and find Mama Lorraine, a voodoo priestess who owns the beauty shop where Kelly and Molly worked. She tells them that she had a dream about Kelly and the girl is still in great danger. Mama Lorraine goes to Kelly's house while MacGyver and Mel check with the local police officer. They're unaware that Bobbie Lee is watching Kelly's house and sees Mama Lorraine go in.
On the streets, Kelly tries to tell a meter maid about her situation. The meter maid tells her to go back home for safety while she contacts a detective. Kelly figures the killers will look for her there first and tells the meter maid that she's going to the theater.
Mel starts arguing with Sergeant Rudley, who insists that Mama Lorraine's dreams aren't evidence and they'll have to wait 48 hours to file a missing persons report. They finally convince Rudley to put out an APB, and MacGyver goes to the theater to see if Kelly is there while Mel checks the other places she works. A few minutes later, the meter maid gets the word and tells Rudley that Kelly was heading for the theater. Rudley calls Mama Lorraine and tells her where Kelly is hiding, but Bobbie Lee breaks in and knocks her out and takes the address from the pad where the voodoo priestess wrote it down.
MacGyver finds Kelly inside the theater and she tells him what she overheard. Bobbie Lee arrives and captures them, and then tells Kelly he plans to keep her with him. He promises not to kill MacGyver and ties him up on a prop medieval rack. However, when he goes to lock the back door, he secretly fastens a book of matches to a rope holding up the lights above MacGyver and sets it on fire. He leaves with Kelly and MacGyver quickly realizes that the lights are starting to fall.
Mel goes back to Mama Lorraine's house and discovers her unconscious. When she wakes up, she describes Bobbie Lee and they head for the theater.
Using a prop poker, MacGyver tries to loosen the wheel holding the ropes. It's not quite long enough so he knocks down a prop skeleton's arm and pushes it into the lever, releasing him just in time as the lights crash down on the rack. Mel and Mama Lorraine arrive and MacGyver examines the matchbook.
Bobbie Lee takes Kelly to the motel and tells Willie to loosely tie her up. He wants to see if she's sincere and figures that if she tries to run off, she can't be trusted. Bobbie Lee goes to kill the accountant, Victor Nesbitt
Using a candle, MacGyver covers the matchbook ashes in wax and ignites it. The metal ink is exposed and they can tell the matchbook came from a diner on the edge of town. MacGyver and Mama Lorraine go there and spot a nearby motel with a Texas pickup truck parked by a room. They examine the truck, which has good-luck charms hanging on the mirror.
Willie goes into the bathroom to shave and keeps an eye on Kelly in the mirror. As soon as she thinks she's alone, Kelly starts to pull free of her ropes. MacGyver and Mama Lorraine arrive and see her trying to escape. Willie recaptures her and prepares to kill her. MacGyver spots a laundry cart and hides inside it while Mama Lorraine busts into the room pretending to be a housekeeper. When Willie tries to push the cart out, MacGyver punches him unconscious.
Nesbitt checks into his hotel and goes up to his room. Bobbie Lee has donned a stolen tree surgeon's uniform and climbs up onto a repair scaffold so he can get a clear shot at Nesbitt when he comes out.
When Willie refuses to talk, MacGyver spots his lucky rabbit's foot and takes it away. Mama Lorraine begins a fake voodoo ritual, dancing and lighting off flash powder. Willie cracks and tells them that Bobbie Lee went to the hotel and he'll shoot Nesbitt in a half hour. MacGyver has Mama Lorraine call the police while he goes to the hotel to stop the assassination. He gets to the hotel and discovers that Kelly has followed him. Bobbie Lee spots her and opens fire, and MacGyver pulls her to cover. The hitman redirects his attention to Nesbitt. MacGyver grabs a fire hose and wraps it around the repair scaffold Bobbie Lee is kneeling on. He then attaches the other end to an elevator. The elevator car goes up, pulling down the scaffolding and Bobbie Lee before he can finish his assignment and kill Nesbitt.
Later, MacGyver goes to his new home with Mel and Kelly. He's surprised to discover that he has a huge mural on one wall of his loft. Mel introduces him to Robo: a street artist that owed Mel a favor after he defended him in court. Robo explains the significance of the mural to an overwhelmed MacGyver, and Mama Lorraine and the other neighbors come in to throw a party to welcome MacGyver to the neighborhood.