WDS does not start on a PXE enabled remote Distribution Point in System Center 2012 Configuration Manager

http://support.microsoft.com/kb/2712387

Symptoms

After enabling the PXE feature of a remote System Center 2012 Configuration Manager Distribution Point (DP), Windows Deployment Services (WDS) and PXE install correctly, however WDS never starts. Attempting to manually start WDS via the Services console results in the following error message:

Windows could not start the Windows Deployment Services Server on Local Computer. For more information, review the System Even Log. If this is a non-Microsoft service, contact the service vendor, or refer to service-specific error code -1056505588.