Brian,
This sounds like a nightmare. I am not an expert but I’ll try to get you up and running.
First I thank 4.5 is a Windows .net version not Micro Frameworks?
I have heard Visual Studio 2015 is not ready for prime time try using VS2013 express.
The latest stable Micro Framework version is 4.3. But my experience has shown 4.2 works just as well for most applications.
Start you application as a .net framework console application. Then select the libraries from the directories where they exist.
C:\Program Files (x86)\Microsoft .NET Micro Framework\v4.3
C:\Program Files (x86)\Secret Labs\Netduino SDK\Assemblies\v4.3
For 4.2 use these directories:
C:\Program Files (x86)\Microsoft .NET Micro Framework\v4.2
C:\Program Files (x86)\Secret Labs\Netduino SDK\Assemblies\v4.2
I hope this helps,
David Weaver