Need some help with a 1600 Roadstar Yamaha PLease

[stumpman]

I bought an 01 Yamaha Roadstar 1600 today it is in top notch shape with 5900 miles on it. The man I bought it from was short and had the bike lowered. I have two issues with it and am looking for some help from the experts as I know little about this bike. I rode it home today about 80 miles and had no problems..... then tonight I took the wife out to eat on it and sytarted hearing a noise when I let off the gas like stopping at a stop sign or just letting off it makes a Chirp/squelch type noise is best I can describe it. It only does it when you let the pressure off the drive line or engine when it's under a load if you pull in the clutch it doesn't seem to do it only when you back off the throttle . I let her get off the bike and went and tried it myself again and it seems to work great with no issues seems just the addition of her small 125 lbs makes it do this. Any ideas would be greatly appreciated and what I can do to cure this problem THanks!

Second issue is what is normaly done when a bike is lowered I need to raise this one back up it scrapes at every turn almost when we both ride and scrapes bad when I make a U turn at a light or cross a RR track. Thanks again for any help offered.

Ride safe!