I want to ask if any of you have done deals on these types of situations.

Hey @Rich Lopes - where is the house located, what type of residence, and is the $3900 FMR?

Definitely check out the podcasts that discuss the types of investing in which you are interested. 

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I was thinking, if you have an option to purchase contract on a property with a wholesaler and once you get and end-buyer ready to buy, then you can either assign the option to purchase to the end-buyer or get a purchase and sales agreement (PSA) signed with the wholesaler and then assign the (PSA) to your end-buyer or get the wholesaler to assign the deal to you and you then assign the deal to your end-buyer.I was thinking of getting the PSA with a clause to pay the $2500 EMD in 5 days and then assign it to my end-buyer.Any thoughts on the best method to work these type deals?

Since you have your eye on both types of investment, my guess is you'll quickly figure out which type works best for you and your family.

I am currently a property manager of various types of properties ranging from multi-family, single family and shared rooms with somewhat difficult tenants at times.

You have banks ( local,regional,national), credit unions, life insurance companies, & CMBS lenders.Who does what loan depends on location, asset type, and size of the loan.

Not saying it is wrong - just a lot.What type  of Mortgage are you using? 

The type of properties/people you will be targeting will be a major factor.