To explain it really really short, you just dublicate the model and for one you just unwrap it onto one UV map, then you bake the textures of the original to your newly created one, pretty simple, once you found the right buttons.
Regarding the LOD textures, I don't even know how you managed to get them in the first place, they are pointless and I consider LOD textures pointless in general for the most part.
Yes sure as a tutorial how to re-use old animation this is great. I could not figure that out so far, but once you animated a character you will realize there are not that many animations you have to do, the most complex animation is the run and maybe reload cycle, most other animations just consist of a few poses and frames.
If you are perfectionist I would not really recommend to re-use anything, since if you transfer animations from on character to another, you don't get exactly the same result, the only exception is, when they are designed to be compatible from the start.
My point is, you may teach people bad design behavior, that is why I did not make tutorials so far, since I always think I may have done something totally wrong and I don't want to teach people wrong things.