Video link:

https://www.youtube.com/watch?v=R-KcxdAFbyg&list=UUe7_jfwJKcnF56Qdm3zeMMQ

It doesn't sound right..
Sounds like the noise it coming from up top

Thanks for the quick responses!!

I just adjusted the decomp to 4mm. I got super excited since it was adjusted way to tight. Hit start and it fires right up, still tick tick ticking loud. Can't believe it!

Any other suggestions? Verslagen thanks for the help! It did need adjusting and you are a legend. I appreciate it, one step closer to figuring this out. The bike seems to crank right up and run great other than this knocking.

Its definitely coming from the top.

Cheers!

I just replaced the oil. Used 2.1qts of Quicksilver Powersports Lubricants, Motorcycle 4-Stroke Oil, 20W-50 Full Synthetic, it was the only motorcycle oil at wally world. This is driving me crazy.

while rotella T and T6 are not marketed as m/c oil, they both have the JASO MA rating which is what our bike requires.

I adjust the decomp by how it starts... 2 or 3 rev's and it may be too tight.  
1st rev may be too loose.  too loose and the starter may stall.
looser is better to me.

there's a little bathtub under the cam, if it's oiling properly, it's full of oil.
set your bike upright or nearly upright with a block under the kickstand.
run it for a minute, you don't want it hot for this test, then shut it down.
take off the front valve inspection cover and stick your finger in there,
you should be able to reach the tub and oil should be in it.

while you're here, check the decomp cam. there's a little stub sticking out over the right side of the rocker.  they shouldn't hit during normal operation.  I would open the timing port and rotate the crank thru the exhaust stroke to check.

Justin, I checked it twice to make absolute certain, I rotated the crank shaft the same direction the wheels spin, counter clock wise, went through the cycle a few times to make sure I had a good understanding of everything. I rested my hand on the intake rocker and when I felt it go down I then lined up the timing marks. I also popped out the sparkplug and carefully inserted a screwdriver in the hole touching the top of the piston. This would be TDC on the compression stroke correct?

As far as Verslagen's advice, it starts on first rev so I think the decomp is slightly loose but it fires right up and runs great. (other than the loud knocking )

I then stabilized the bike upright, ran it for a minute, and removed the top inspection cover. The rockers look like theyre oily but I couldn't find the oil tub, I didn't know exactly where to stick my fingers and could barely get one in anyway. I tried to take some pictures, maybe you can see it?

I've still got the inspection cover off, could you be more specific on where I am looking?

I also took a picture of the compression tester. Highest I got it was a hair over 110 with a warm engine.

Thanks again everyone!

Also the decomp lever, if it isn't touching it is EXTREMELY close to touching. I tried to go through the cycle a few times and it does seem to be super super close to the top of the rocker. Is this normal?