We explore the overlap of two nationally recognized learning outcomes for physics lab courses, namely, the ability to model experimental systems and the ability to troubleshoot a malfunctioning apparatus. Modeling and troubleshooting are both nonlinear, recursive processes that involve using models to inform revisions to an apparatus. To probe the overlap of modeling and troubleshooting, we collected audiovisual data from think-aloud activities in which eight pairs of students from two institutions attempted to diagnose and repair a malfunctioning electrical circuit. We characterize the cognitive tasks and model-based reasoning that students employed during this activity. In doing so, we demonstrate that troubleshooting engages students in the core scientific practice of modeling.