There's several ways to do it. It depends. But, one way that might work, would to have 2 additional length parameters; one positive and one negative, and an on/off parameter to control which one to use to drive the geometry.
Length Parameter 1: = user enters offset value (positive)
Length Parameter 2: =(-Length Parameter 1). The offset value returned will be negative Length Parameter 1.
Length Parameter 3: =(if(On/off Parameter, Length Parameter 1, Length Parameter 2). This parameter is associated to the labeled dimension that drives the geometry up or down depending on the condition (check or unchecked) of the On/off Parameter.
On/off Parameter: User checks box if element uses negative offset value (Length Parameter 2).
Like I said: it depends on how you built the family. If you can post the family, we can give you a sure suggestion.