I recently renamed my root TFS folder from D:\\TFS\\systemstfs to D:\\TFS\\sys because one of the project\'s paths was too long for Windows. Now, when
D:\\TFS\\systemstfs
D:\\TFS\\sys
In my case, I received a new machine but when I try run the source (which is copied from old machine) got this error. Removing applicationhost.config file from .vs\config folder under the source code directory fixed the problem.