An intruder: The first theory to explain Wone's death is what Price, Zaborsky, and Ward claim, which is that an intruder broke into the house. They said that they heard a person heading down the stairs when they went to investigate a series of grunts coming from the guest room. They claimed the intruder must have come in through the back door of the townhouse, which had been left unlocked and could be accessed by climbing a fence.
Someone in the house killed him: If it wasn't an intruder, the only other obvious explanation is that Price, Zaborsky, or Ward killed him. They all deny involvement, but police found puncture marks on his body and believe that he was drugged or otherwise restrained. They also found evidence that Wone had been sexually assaulted. The precision of Wone's wounds suggest that he didn't move when he was stabbed, but no traces of drugs were found in his system.
The murder weapon was never found, although authorities claim that a knife missing from their kitchen set would have been the right size for the killings. Price, Zaborsky, and Ward were put on trial for obstruction of justice after authorities dismissed their claims of an intruder, and during that trial, Ward's mother testified that she had gifted her son the knife set and kept the smaller knife for herself.
There was a cover-up: This theory is connected to the first two, and suggests that Price, Zaborsky and Ward covered up the crime either because they committed it or on behalf of someone else. When authorities arrived, the men were wearing bathrobes, and all of them appeared to have recently showered. That, coupled with the lack of blood at the scene, seems to suggest that the crime scene was cleaned up before authorities were called.