What should you look for when buying a [cheap, generic] multimeter?

Answer 1

Some central features to look for:

Is it able to protect itself if exposed to a voltage that's too high? Many cheap meters don't have that and it's very easy to accidentally burn them out.

Is its display digital or analogue? Analogue meters tend to be more fragile and harder to read.

Does it have a built-in stand? It's a cheap little piece of plastic built into the back, but very convenient.

Does it have all the features you want: the right voltage and current ranges, ability to handle both AC and DC, an Ohm meter, etc?

Does it have a back-light and do you need one?