Purchase second mortgage?

[Fred Kite]

There is a house in pre-foreclosure in FL I am interested in buying for rehab and to live in.

The first mortgage is around $200k and there is a second mortgage for around $100k.

House is in very poor condition and needs to be gutted.  In current condition the property is probably worth $270k.

The house is scheduled for a foreclosure auction in a few months.

Is there anything I can do to get a leg up on purchasing it?  I am a cash buyer.  I've heard about people buying up the second mortgage at a discount to get an advantage in an auction.  Is this a viable strategy and how could I approach the lender to maximize my chances of success?