An M-V-matrix has the form A = sI - B with s >= rho(B) and B-k is entrywise nonnegative for all sufficiently large integers k. In this paper, the existence of a preferred basis for a singular M-V-matrix A = sI - B with index(B) <= 1 is proven. Some equivalent conditions for the equality of the height and level characteristics of A are studied. Well structured property of the reduced graph of A is discussed. Also possibility of the existence of preferred basis for another generalization of M-matrices, known as GM-matrices, is studied.