Check out the exhaust manifold.
When it heats up the metal expands and closes the gap on the leak a little. When it cools down the metal contracts and the leak is loud when you first start up.
What your describing sounds like a exhaust manifold leak.
Lifters sound like they are bleeding down. Try changing the oil with a multi viscosity oil. chk oil Pressure. If lifters are over adjusted the lifters can't pump up properly or retain the oil properly
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