The followings are things to note while create a new sitefinity sites.

Name the solution.
Open the solution via Sitefinity Project Manager and save the solution in the project folder with proper name

Set up DB with appropriate name.
Click “Browse” on the Project Manager to set up the DB.

Add all references as solution items.
Copy all reference DLLs from the bin folder of the project to the “Lib” folder. Add them under solution folder items.

Sitefinity Initial Setup

Repoint/Rereference the dlls from “Lib” folder
Remove all sitefinity related references from the project and rereferences them from the “Lib” folder.
Tip: The easiest way to reference the sitefinity related dlls to the project file would be:
- open the project file in the notepad
- search for “bin\”
- replace the appropriate dll refernces with “..\Lib\”
DO NOT hit “Replace All” as not all places require replacement.
All sitefinity related dlls will be rereferenced to correct folder EXCLUDING AjaxControlToolkit and a few others.
Search for the followings:

..\Reference Assemblies\AjaxControlToolkit.dll
..\Reference Assemblies\Microsoft\WindowsAzure\Microsoft.WindowsAzure.Diagnostics.dll
..\Reference Assemblies\Microsoft\WindowsAzure\Microsoft.WindowsAzure.ServiceRuntime.dll
..\Reference Assemblies\Microsoft\WindowsAzure\Microsoft.WindowsAzure.StorageClient.dll

and repoint to Lib folder as well.
Note: Everytime you do the upgrade or add a custom dlls, make sure to add/update them in the Lib folder and repoint the project references to Lib.

Rename the Assembly and DefaultNameSpace with the project name
Right click on the project > Properties > Application tab > Type in project name in the “Assembly name” and “Default namespace” textboxes.

Rename Assembly

Build the solution
If the aboves are done correctly, your solution will build successfully and once browsed, will display “Thank you for visiting our web site. Please return soon for updates.”
Else you’ll get the error mentioned in the DON’T section below.

DON’T

Don’t use dots “.” in the project name.
Current version throws error when using dots in the project name.
Don’t build the solution before repointing the references.
After creating a new sitefinity site using Sitefinity Project Manager, do not build the project or solution as it will overwrite the dlls from the bin folder and throw the following error.
_”Unable to load one or more of the requested types. Retrieve the LoaderExceptions property for more information.”_ Ref