There are some investors that believe that buying a single-family home with the intentions to rent it out will be the best investments a newcomer to real estate can make. If the property is located in a good neighborhood it can allow for a steadier tenancy rate than you might receive elsewhere or with multi-family units. When your researching neighborhoods to invest in, make sure to take into account surrounding properties and amenities on hand. Proximity to restaurants, places to shop, and a good school district are details you should look into. These will help attract quality tenants. Also be aware of the crime rate in the area and the employment numbers in the surrounding area.
There are several good ways to get an idea how much the property might be worth. You can compare it with other similar homes nearby, look at how much it would cost to build the exact same house if you were building it today, or you can find the value by calculating how much income the house would bring in. Don't forget to work in an estimation of the annual mortgage, taxes, and insurance as well as the cost of maintenance and repairs when trying to determine how much income you'd receive from rent. From there, once you have your data, you can subtract those annual expenses from what you expect to receive from renting out the property, you can work out an estimate of how much you would expect to make in a year from the property.
Research is key when it comes to investing in a property, either single or multi-family.