KVM on Centos 7 Minimal Headless Server

Hello All. I did not found any good post on this so I am writing about it. These posts also help me setup the development sever from scratch whenever it crashes for one or another reason. Please note that I keep security as top priority, so SELinux is always enabled on my system. So, I saw a couple of blog posts on how to setup on KVM on Centos7. They all had the same flow.