2007 Ruckus engine knocking

[panamakid]

I bought a 2007 Ruckus with less than 2,000 miles. It had been sitting a while. It runs but knocks and is low on power. It bogs when I give it gas. 
The valve gap are in spec. 

Here is a video of the noise. 

youtu.be/VuEpIdu8IxA



Do you think it could be a crank bearing?

[Frank Hassle]

Have you checked the timing?

[cartel]

sounds like the valves need to be shimmed