This discussion may contain spoilers!
I was playing The Wolf Among Us and when i finished Smoke and Mirrors, i had an idea, it is kinda crazy, but i think, it is interesting.
So, most of players think, that somebody killing prostitutes, but my idea is, that somebody killing people, who were close to Bigby ( to revenge him). Maybe, killer wanted to kill Snow White, but killed Lily. Crane is not the killer, he knew, thatSnow White was Lily.
So, main suspects:
1) Mr.Toad! Yeah, I know, he looks like very good character, but he saw Bigby with Faith last time ( i do not mention Woodsman). I am not sure, but there must be something about him.
2) Colin! He has a reason to revenge ( broken house). Also, he walked away, when Bigby was sleeping. BUT! The name of achievement of the fifth episode: The House of Straw. Colin is kinda connected with all of this.
Also, in the second episode, Toad jr. said: "somebody said: "stop laughing at me"". It makes me think, that the killer has strange appearance.
P.s. Ending of the last episode. I thought, it would be cool, if Bigby finds out, who is the killer and suddenly wakes up in his armchair ( like in the first episode) because of the knock at his door. He opens the door, and there is Snow White saying: "Bigby!"
P.p.s. Excuse my English, I am russian.