First let me add some context to error I get, I have installed .NET 4.5.1 Preview and first thing that I noticed in VS 2012 is that .NET 4.5.1 isn\'t listed in available framewo
Building .NET Framework 4.5.1 applications is supported in Visual Studio 2012. You need to either install Visual Studio 2013 Preview or Windows SDK for Windows 8.1 Preview to get the .NET Framework 4.5.1 Preview Targeting pack on the same machine as Visual Studio 2012 to build applications with .NET Framework 4.5.1 preview.
Thanks
Nithya [MSFT]