If you need to know how and why and what when it comes to MDS model deployment then this article is the best I have read to help you understand the basics: http://www.sqlchick.com/entries/2015/3/16/how-to-deploy-master-data-services-models-between-environments
However, what it doesn't cover is how to get a Build or Release engine like VSTS to deploy the models remotely. Fortunately VSTS provides a PowerShell on Target Machines Build Task that enables us to execute the MDSModelDeploy.exe command remotely.
I have a PowerShell script in my TFS repository that I copy to the target machine using a Copy Files Build Task and then invoke that script using the PowerShell on Target Machines task.
Now all I need to do is figure out why PS-Remoting is not working on my MDS servers...oh well, next blog post dudes :-)