Timing the Market? Where are we now? Crash coming?

[Brian Neisig]

So I am new to Bigger Pockets, and I am listening to all the podcasts in order, have listened to almost 200.  I have one rental property, a town house i bought in April of 2007 (ouch) for $157k.  It's in Eagan, MN, 55122.  2 years later it was worth $90k, of course.  Now houses in that same neighborhood, identical to mine are selling for $180k.  This feels like things getting fast and loose again, right?  But I'm all excited to buy another rental property.  I like to buy near me and I live in Rosemount now, so basically anywhere in Dakota County is fair game, but I want to get a good deal, and I have to be able to afford it (planning on borrowing from 401K for down payment, or else being patient and saving up cash).  I don't want to screw myself by mistiming the market again.  Any advice, opinions, evidence or analysis would be much appreciated.  Sit and accumulate cash, waiting or a crash OR buy now?  That is the question.