2008 4.0L Cold Start Engine Clatter

I have a 08 Tacoma with a 4.0L that has me concerned a bit. With all the subzero degree day's this winter I have picked up a very loud engine noise at start up cold. It has 112,000 on the clock, I'm original owner and have done all maintenance.
I'm running Mobil 1 Ext Performance since about 40,000. I run it to 6,000 or 6,500 and change the filter at around 3,000 half way through the run on the oil.
The noise is a clattering like a slapping noise, it seems to go away after warm up and is not present at hot restarts. It appears to be coming from bank 2, drivers side head area. Could I have a collapsed lifter ? I'm going to remove the accessory belt and let it set over night and start it in the morning. In doing so I'm hoping the noise wouldn't be there to eliminate the engine.
I'm wondering if there may be a chance I'm losing my water pump or AC compressor and the noise is just to hard to pin point.

After this if it's still present my next step is an oil change with 4.5 qts of Mobil 1 EP and 1 qt of Lucas oil treatment / stabilizer then evaluate. I also plan on taking an oil sample when I dump the oil and send it to BlackStone for analysis. I had that done at 90,000 so there is a baseline on this engine.
BTW, what I'm hearing isn't the Tacoma engine tick.

Thanks for any input.

 

Update : 2-28-2015 I removed my serpentine belt last night and restarted cold this morning, temp was about 4 below zero. The noise was still present, however I was able to pin point where it was coming from. It's coming from right at the area of the oil filler neck in the valve cover. That is where the cam chain is located.

I'm wondering if my cam chain has stretched or if because of the extreme cold temperatures the cam chain tensioner is not pumping up right away to take slack out of the chain.

Has anyone else experience this or had a cam chain, sprockets, guide and tensioner replaced on a 4.0L ?

I did go ahead and change the oil with 4.5 qts. of Mobil 1 5W30 EP and add a qt. of Lucas oil stabilizer. I pulled a sample of oil to send into BlackStone Labs for analysis also.

Thanks for any input.

 

VVTI units can clatter a bit in cold weather on the 4.0L, I have tried different oil and filter combo's with some relief on mine. Fram Ultra and Wix filters are the most effective for mine.

 

I'll have to try and remember about the filters. I'm currently using the OEM Toyota filters. It's been so bad a few times it scared me, I thought sure something was going to fly apart. Now I've thought about it more, the sound is like the cam chain is slapping.

 

Update:
Well, I got my lab report back from BlackStone and it says the wear metals show no indication of an internal problem. Which is good ! lol
I have since removed the belt and started the engine cold without the belt a couple times and the noise doesn't seem to be present. So, that led me to start thinking water pump, power steering pump or alternator. I just started the engine cold a little while ago with the belt on, noise was present. It's a slapping clatter.

I removed the belt, restarted the engine and it's gone. I started spinning all the idlers, fan, alternator and power steering pump. When I spin the power steering pump, it's clicking internally. Did I find my cold start clattering issue. Has anyone had PS pump issues or replaced their pump ?
I have about 112,000 miles on this truck, I can't hardly believe it could be bad ??

Thanks for any input.

 

Finally was able to determine for sure where the noise is coming from along with another symptom. The power steering pump. It was about 25 degrees here this morning and at start up I got the clattering / slapping again. I took of to my destination and had very little power assist and was basically fighting the wheel to drive. I've never heard a pump make the sounds this pump has made. It's not leaking nor does it whine. Everybody I have talked to trying to diagnose this has told me they've never seen a pump failure on a Tacoma.
Just posted this as it may help someone else.