If you link a model via Positioning: Auto – Center to Center in a plan view its zero elevation will align with the host model’s zero elevation.
Do that in an elevation or section view however and the linked model may not rest at the correct Zero elevation. The discrepancy man be very subtle or quite obvious. It will depend on the adjusted extents of the view that is active.
The trigger appears to be the elevation or section view being cropped very shallow (only one level visible) prior to linking the model (tested as far back as Revit 2015). If all the levels are visible in the view it seems to be more reliable.
Far safer me thinks to just link via a plan view, something to watch out for.