Possible causes:
1) The actual model files are missing (not on your hard drive)
2) The directory path cannot be found. (Original mapper could have put stuff on multiple Hard drives for instance)
3) Original mapper, compiled on a "windows PC", you are using Linux and camelCase letters are being used. (e.g. Check if an shown "Error" has a name like MyFlyingModel1.mdl in Hammer but when you check on you hard drive the file is named myflyingmodel1.mdl, Solution: Change/use lower-case and re-compile map.)