Victor...like Jerry said, don't let everybody scare you about the bike you bought. And in my earlier post, I mentioned putting a different oil in the crankcase, like Mobil 1 20w50 Vtwin. My personal experience with this is that it lowers the oil temps maybe 10 degrees F, and can make things a
little bit quieter, but don't expect anything dramatic by changing oil brands. It's just a better, less expensive, alternative to Syn 3, and generally readily available, at least in the U.S.
Were there some issues with the '07 110? Yes, the main one being that there would be a small oil leak at the base of one or both of the jugs. Basically, this was due to a pooly designed gasket. Harley finnaly owned up to the problem and issued a recall...I think they called it an "enhancement" where they replaced most of the top end components of the engine with improved parts. Some bikes got new heads as well as cylinders. It is likely that this has already been done to your bike, but it would not hurt to have the dealer look it up to be sure...there should be a record. Or, you could talk to the person you bought the bike from (if it was an individual) and simply ask if it was done. Some of the early bikes had problems with the rocker box covers not having proper clearance for the rocker arms, but that noise would be more pronounced than a "ticking" sound...more like a clatter. Harley motors make noise, especially the larger motors like the 110's, and especially the valve train. Some of those noises are indeed "normal". We can't hear your bike, so mostly it would be speculation to say this or that could be wrong.
If you go to this page on the HD website and put your VIN number in, it should tell you if there is a recall on your specific bike. I think it's still valid...all this was happening back in '08.
https://www.harley-davidson.com/en_US/Content/Pages/Owners/service-your-bike/service-recalls/service-recalls.html?locale=en_US&bmLocale=en_USIf all that has been done, just ride the bike and enjoy it. Engine noise is "normal"...you're sitting on top of it, after all. You want noisy? Listen to a Ducati with a dry clutch...sounds like marbles rolling around in the motor, but it's perfectly normal.