Team Foundation Server has been something that you mostly see in bigger companies. Because it required a hosted solution to work well. So if you wanted to have a TFS even for a small team project you would need to get access to hosted TFS or first spend few days installing it. Now there’s a very easy option Team Foundation Service.
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Open tfspreview.com

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Fill in wanted name (Try to choose something that’s easy to remember)

- Login with your Windows Live ID
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Your TFS is now ready

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Start by creating a new project. You only need to type the name and choose the template. The default one is good.

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Now wait a moment for project creation

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After that open the project and from activities choose open new instance of visual studio

- Enjoy!