Does it show red wireframe errors in the asset browser and model editor as well? If so, you need to set up the models so it can find your materials. See the materials part of this guide: https://steamhost.cn/steamcommunity_com/sharedfiles/filedetails/?id=890780029

What VPK files are you trying to unpack? If you are using asset packs from the workshop, you dont' need to unpack them, just add them as dependencies.

https://developer.valvesoftware.com/wiki/SteamVR/Environments/AssetPacks

Does this happen with every model? Can you show an example of a model with the issue?

Maybe your install is corrupt. Try verifying the cache from Steam.

Any errors in the console?

Make sure to set it up right: https://developer.valvesoftware.com/wiki/SteamVR/Environments/Introduction#Console

Connect to the right port.

Read the "console" section, here. I think that will solve your port problem.

https://developer.valvesoftware.com/wiki/SteamVR/Environments/Introduction#Console

Do your have three vpk files starting with shaders_pc_ in \Steam\SteamApps\common\SteamVR\tools\steamvr_environments\game\steamtours\ and two with the same names in \Steam\SteamApps\common\SteamVR\tools\steamvr_environments\game\core\ ?

Can you post all of the console output to somewhere like pastebin.com

SteamVR Home requres a graphics card that supports DirectX 11. You seem to have a ATI Radeon HD 4600, that does not support it. You'll likely have to get a new graphics card.

If you want to use SFM, the Dota 2 version probably still supports your card.