Comment # 1 on bug 1166999 from Ladislav Mate

'kubeadm init' failed as well. 

After some more log checks found that etcd complain for long response times. 

etcdserver: read-only range request "key:\"/registry/health\" " with result
"range_response_count:0 size:4" took too long (1.786507133s) to execute

Moved VMs to faster disks and everything is working great.

kubeadm:~ # kubicctl init
Initializing kubernetes master can take several minutes, please be patient.
Setting up single-master kubernetes node with weave
Initialize Kubernetes control-plane
Deploy weave
Deploy Kubernetes Reboot Daemon (kured)
Kubernetes master was succesfully setup.
kubeadm:~ #