A generic, abstract base class for Normcore RealtimeComponents that handles OnRealtimeModelReplaced and calls more self-explanatory methods for common usages.

BaseComponentRealtime.cs

using Normal.Realtime;
using System;

public abstract class BaseComponentRealtime<TModelRealtime> : RealtimeComponent<TModelRealtime>
		where TModelRealtime : RealtimeModel, new()
{
	public bool IsOwnershipSupported => model.hasMetaModel;
	public bool PreventOwnershipTakeover
	{
		get => model.preventOwnershipTakeover;
		set => model.preventOwnershipTakeover = value;
	}

	public bool IsInitialized { get; private set; }

	public event Action OnInitialized;

	protected readonly Serilog.ILogger _logger = new Logger<TModelRealtime>();

	protected override void OnRealtimeModelReplaced(TModelRealtime previousModel, TModelRealtime currentModel)
	{
		if (previousModel != null) {
			UnregisterModelEvents(previousModel);
		}

		if (currentModel != null) {
			if (currentModel.isFreshModel) {
				InitializeLocalValues(currentModel);
			}

			RegisterModelEvents(currentModel);

			if (!IsInitialized) {
				IsInitialized = true;
				HandleModelInitialized();
				OnInitialized?.Invoke();
			}
		}
	}

	/// <summary>
	/// This method runs immediately when a Realtime prefab is instantiated locally and only runs on the local client.
	/// Use this to set the initial values in a RealtimeModel and remote clients will immediately have these values when 
	/// the instance is spawned on their side. 
	/// </summary>
	/// <param name="freshModel"></param>
	protected virtual void InitializeLocalValues(TModelRealtime freshModel) { }

	/// <summary>
	/// This method executes once this RealtimeComponent has had it's model data initialized, whether remote or local.
	/// Note that other realtime components on this object or in the hierarchy may not be initialized yet.
	/// </summary>
	protected virtual void HandleModelInitialized() { }

	/// <summary>
	/// This method executes every time the RealtimeComponent's model is initialized OR replaced. The underlying Models may be 
	/// replaced at run time so you should register for RealtimeModel events here instead of Start/Awake.
	/// </summary>
	/// <param name="newModel"></param>
	protected virtual void RegisterModelEvents(TModelRealtime newModel) { }

	/// <summary>
	/// This method executes every time the RealtimeComponent's model is destroyed OR replaced. The underlying Models may be 
	/// replaced at run time so you should unregister for RealtimeModel events here instead of OnDestroy.
	/// </summary>
	/// <param name="oldModel"></param>
	protected virtual void UnregisterModelEvents(TModelRealtime oldModel) { }
}