If your question is about converting an existing installation to LVM, the answer is that it can, with great difficulty, be done, but if you have to ask, that suggests that you might not have the knowledge needed to be successful at it. Sometimes, though, simply knowing that something is possible is all the inspiration that you need.
But, the separate /usr filesystem could be a problem. Many (most?) distros today no longer support a separate /usr filesystem. The final nail in the coffin was when /bin and /sbin became symlinks to /usr/bin and /usr/sbin, respectively.
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