I finally got the chance to start investigating. I let the bike run for about 10 min to get the oil hot, no noises the whole time. I turned it off and went to turn it back on and the chatter was constant and it didn't start again. I drained the oil, played with the oil filter until it was completely drained, and checked the oil screen. The screen is clean, no gunky buildup but the oil had a green tint to it and smelled a little funky. Hard to explain how it smelled, it had the oil scent to it with something else. I used a white glass bowl to drain the oil into because my oil pan is to large to fit under the bike while on the side stand and after I emptied it into the oil pan it left a green stain on the bowl. Maybe it smells funky and looks a little green because there was still old oil in it? I called a friend and he said the valvoline I used may come out greenish but I figured i'd post it anyway. This bike sat for at least 3 years unstarted before I got my hands on it. I checked the coolant level thinking maybe it was antifreeze, thankfully the coolant level is fine.
Wolfie tomorrow I will be popping off the clutch and stator covers to see if I see any signs of wear, and I will take pics as well.
Spockster I think I will get one of those stethoscopes, never used one but I found online that they have a lot of uses.