Tried to create a new F# project with all default values, running it failed with the message
Build failed. MSBuild operation failed
Build: 1 error, 0 warnings
Took me several days (tried several minutes a day to check logs, tweak settings, etc). Finally found a workaround. In Project | [project] Options | Main Settings, ensure that "Use MSBuild build engine (recommended for this project type) is unchecked.