It might not even be accepted on your initial terms and most states have buyer focused contingency periods, or a statutory period of 7-14 business days to remit the deposit, perform inspections, organize appraisals and generally renegotiate or cancel without risk to the buyers earnest money deposit.

The only way I would accept that applicant is if their cosigner paid the rent up front with a double deposit.

You will want to make sure the Holding Agreement agreement clearly provides that the monies paid is not the required move-in monies, rent, or a deposit and is a fee to hold the property from being rented until August 1. 

There is a outrageous cleaning deposit charged to your guests.

Higher security deposit? 

Hello All, I am under contract to buy a duplex via a wholesale deal and have already given the earnest money deposit.

The large institutional investors look at the comparable prices in an area (costs) and rents (income), they find the best properties that match the calculation then they go look at the property. 

The first approved applicant is offered the rental and I give them 24 hours to pay the deposit and sign the agreement.

After that my contractor will be taking a look at the foundation and roof for me before i place any deposit.

I do think you can normally get funding in that time frame and it doesn't have to be actual cash for balance but I do think the deposit has to be cash, debit, certified check etc.