Usually this happens when the OutputPath property of the project file is blank. Project files are just MSBuild files. To edit in Visual Studio: Right click on the project, pick "Unload project" then right click on the unloaded project and select "Edit ...".
Look for the Release-Versionincrement property group. It should look something like
<PropertyGroup Condition=" '$(Configuration)|$(Platform)' == 'Release-VersionIncrement|AnyCPU' ">
<OutputPath>binRelease-VersionIncrement</OutputPath>
<DefineConstants>TRACE</DefineConstants>
<Optimize>true</Optimize>
<DebugType>pdbonly</DebugType>
<PlatformTarget>AnyCPU</PlatformTarget>
<CodeAnalysisUseTypeNameInSuppression>true</CodeAnalysisUseTypeNameInSuppression>
<CodeAnalysisModuleSuppressionsFile>GlobalSuppressions.cs</CodeAnalysisModuleSuppressionsFile>
<ErrorReport>prompt</ErrorReport>
</PropertyGroup>
The important one there it the OutputPath, does it exist for your project file? If not add it and try again.
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