What's this sound?
 

On my 01 i've noticed that sometime when i'm in neutral and i give it a quick throttle snap I can hear a single kinda pop/tick noise but i have no clue what it is. I'd say it's more of a clack than a tick. I bought this bike 5 days ago and the guy told me that the timing chain was recently done and the valves were adjusted, so unless he bs'ed me that should rule out the timing chain, correct?

Bikes and motors make noise, it's probably nothing. Have someone local who knows bikes and can actually hear what you're talking about take a listen and see what they say.