Using Laptop to serve as monitor, keyboard and mouse to another PC

I have a laptop for my regular use which is compact and for regular day to day work. I need a much powerful PC so I buy/ assemble one. But I dont want to buy peripherals like Monitor, Keyboard and Mouse. I want to leverage my laptop for this. I have the right software/drivers installed on my laptop. On PC i connect usb cables as if I am connecting a USB monitor, Keyboard, Mouse. The other end i connect to my Laptop's USB port or any other port. May be there is a hub in between which mux the three usb cables to one. I run the right application on my Laptop Boot my new PC and this application on my laptop shows what a monitor would show i.e. the bootup sequence When I type anything on the application on my laptop it is registered on the PC. Thus I get the PC's bios with my laptop and configure it. I install the OS on the PC but interfacing with my this application on my laptop. Once OS is installed i can control the GUI of my PC from my laptop. Or keep it running but when I need to control it i can use this application and USB cables. This idea is like running a VM on my laptop which I do. Only thing is this VM application controls a hardware PC instead. Additionally a device which stands in between like for e.g. a dock which is connected to via usb/thunderbolt on one side but to laptop via ethernet on another and instead of connecting to monitor/keyboard/mouse it actually streams these to the laptop where the application interprets the data and shows it in its screen and takes inputs from keyboard/trackpad and pass them back to the doc which will send them back to the pc.