Bid Above Final Judgement Amount?

[Chad U.]

I have an opportunity to buy a distressed note which is slated for foreclosure auction within the next month. However the hedge fund wants the full Final Judgement to make the trade, but this is well below the as-is value of the property and significantly less than it's ARV. We'd plan on: 1) letting it sell to 3rd party at the auction, 2) acquire it then either wholesale as-is or 3) rehab and sell retail.

My question/dilemma is if no one bids above the FJ at the auction, are we as the lender permitted to bid against the counter parties to push the bid price up?  My assumption is you can only bid up to the FJ. But I've been told you can bid it over the amount, but if there is still equity in the property, then the borrower may have recourse to claim predatory bidding (or something to that effect) and robbing them of any equity that they could potentially recoup?  

We definitely don't want to get ourselves into that situation.    The property is located in Florida.