$(VCTargetsPath) in MSBuild

MSBuild may fail to build, complaining that

"C:\Program Files (x86)\MSBuild\Microsoft.Cpp\v4.0\V110\Microsoft.Cpp.Default.props" was not found

i.e. trying to load the v110 toolset even though you may not have the corresponding Visual Studio version. To fix it, set the environment variable VisualStudioVersion=12.0 for example, or pass it to msbuild on the command line as /p:VisualStudioVersion=12.0.