BIG-IQ 7.1.0 on AWS - MCPD issues

I have previously been running BIG-IQ v6 in AWS without issues. Last week I deployed BIG-IQ v7.1.0 however I keep having the following issue; after I reboot the instance, the mcpd service is reported as not running or keeps restarting. WebGUI does not even load, and SSH sometimes returns a slow/unresponsive tmsh session, and other times errors out and closes the session.

Steps to re-create:

• Deploy BIG-IQ v7.1.0 from the AWS Market place
• Allocate Elastic IP, Start Instance and Add a Trial License
• Add a new device (BIG-IP running 12.1.5.2)
• Deploy AS3 declarations to the BIG-IP
• Delete the AS3 declared applications (through AS3)
• Shutdown the instance from tmsh
• Start the instance

Issues Observed:

• The Web GUI does not load
• Attempts to SSH to the BIG-IQ return an error : cfg exception: (The connection to mcpd has been lost, try again.)
• Viewing the system log from AWS Console shows multiple entries of 'Starting Retrieve public keys for ssh(aws-init): runsvstat: warning: /service/restnoded: runsv not running. runsvstat: warning: /service/restnoded: runsv not running.

I would like to know :

• Is this a known issue? Is there a known cause? I could not find any KB articles that relate to this.
• How can one recover the BIG-IQ since neither GUI nor SSH are operational?