You can use a long thin screwdriver as a stethoscope to listen to the various parts of the engine to see where the noise is the loudest. Or, buy a car stethoscope for around $10 at the parts store.
Does the sound change with engine speed? I'll throw in a guess of the sucking sound being a pulley bearing. For how loud it is, that would be a heck of a vacuum leak and not only would it throw a CEL, the engine would run horrible.

Ticking sound isn't apparent, but could be a noisy hydraulic lifter, something going on with the VANOS, actuator valve for the evap system running, or normal fuel injector noise.

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Olympic Peninsula, WA, USA
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2005 Mini Cooper 100k, British Racing Green/Silver-Black
04/2002 4.6is 140k, Silver/Black-Alcantara *FOR SALE*
1989 325iX 270k, Diamond Black/Black
1984 318i 370k *SOLD* (First Bimmer)
Honorable Mentions: '71 2002, '87 325, '90 325ic, '92 525it, '93 325i, '94 530i