I've cleaned this thread for obvious reasons.
The Original Poster has a concern that was not being addressed in the proper way. He recieved some good and some bad advice and some of the comments made were in poor taste and the OP was not being helped as is the reason this forum exists in the first place.
I also see that the OP has not responded for three days which leads me to believe he was either turned off by the responses he did recieve and went away dissatisfied with the results of his questions or he has not checked back to see what help was offered.
To Bsimeoli, the OP: The Chinese two stroke engines are notorious for producing some strange noises, particularly when new. A builder new to the hobby and with no prior experience with them often has concerns about these sounds. They range from metallic pinging noises to something akin to metal to metal contact, rattling, squeals etc.
Without actually hearing these sounds and basing an answer solely on a new builders descriptions makes it difficult to say with any degree of accuracy what the noise might be. Clutch noise and sometimes odors are not uncommon.
There are areas that need to be lubricated prior to operating the bike. These include the clutch actuating mechanism, commonly referred to as the cam, bucking bar and the ball bearing which constitutes the moving parts of the clutch actuating mechanism. There are many threads explaining these parts and showing where and what needs to be lubed.
The two gears located under the right side engine cover should also be lubricated with a small dab of a good grade bearning grease but excessive lube in this area can be a problem in itself because the lubrication can get onto the clutch friction pads which can cause slippage and a burning smell.
Excess oil dripping from the exhaust can either be a normal occurance with a two stroke engine or a result of improper fuel to oil ratio. If the OP is following the kit instructions, many of which wrongly suggest a ratio of 16:1 fuel to oil, that could explain the oil he sees at the exhaust outlet. Without actually observing how much oil he sees makes it hard to asses the problem because two stroke engine do emit oil with the exhaust gases so some oil is normal. A lot of oil is not. Again much has been posted here regading proper fuel to oil mixing instructions and I would suggest to the Original Poster that he take the time to research this often discussed topic. We do recommend starting with a 24:1 mix for at least a gallon or two then moving to a 32:1 mix afterward.
I hope to see a response from Bsimeoli in the near future and that we have helped in some way for him to get on the road and enjoy his motorized bike and that if he has further questions and concerns that he can be assured of getting that help and advice here.
Tom