Working with wholesalers

[Cal Ewing]

Hello, I am looking into the idea of working with wholesalers as a way of acquiring properties. I already am receiving numerous deals in my email inbox from a variety of wholesalers but have not yet pulled the trigger on any deals. 

Can some of you BP wholesalers take me through the process of buying from you? 

Most deals I see have a statement similar to: 

"$2k non-refundable deposit locks up this deal"

So say there is a deal that interests me based on numbers provided and I want to act quickly so as not to loose an opportunity. Do I need to have my own purchase contract ready and send the wholesale company my $2000 along with an offer to purchase? If so, how much time do I have for due diligence? Is it the same as if I am buying off the MLS?

What happens if I see the property and realize that the repair costs are more than advertized and the deal doesn't make sense and I want out. Is that $2k non-refundable deposit truley gone if I back out? 

If this is the case, how can a person look at a lot of deals without blowing all of their investment capital on earnest money for deals that aren't the right one?

Or do I have it backwards? Do I go check out the deal first and try and varify the wholesalers repair numbers before locking up the deal?

Thanks in advance for any feedback on this. 

Cal Ewing