The Bad Boy Records founder appeared in court Friday without shackles ... going before a judge and pushing for his release.

It's the fourth time Diddy's trying to get out on bail ... after being denied three times. However, the judge just adjourned court for the day -- and a decision on bail will be rendered next week.

Diddy's proposed bail package ... $50 million with his Miami Beach mansion as collateral, plus house arrest, around-the-clock security and no contact with alleged victims or witnesses. However, during the hearing, the judge told Diddy that -- because the location has a dock -- the location wouldn't work ... even if there is no boat there.

They also discussed other potential home detention options ... such as his 3-bedroom apartment in NYC.

Two judges have already concluded Diddy would pose a threat to the community if released ... and his bail attempt last month was denied after the judge raised concerns Diddy could obstruct the investigation and interfere with witnesses.

For his part, Diddy is accusing federal prosecutors of editing the Cassie beating video to make him look more dangerous than he really is in order to keep him behind bars pending trail.

Diddy scored a legal win earlier this week ... when a judge sided with Diddy's defense and ordered prosecutors to delete photos of Diddy's personal legal notes that were snapped during a raid on his jail cell.

As you know ... Diddy has been held without bail at a federal jail in Brooklyn since his September arrest.

Diddy's trial is scheduled for May 5, and if he doesn't get out on bail now, he's likely to spend the holidays behind bars.

Diddy's family -- his sons, daughters, and notably the mother of Diddy's daughter Chance, Sarah Chapman -- appeared at his bail hearing to offer their support.