I've done a lot of reading on LMA (nice overview here), and it's an app that can technically be installed on any org, although docs and this trailhead module generally suggest to install it on a Partner Business Org (PBO) - the one that usually has environment hub setup on it and the like.
The managed package (soon to go public) is bringing functionality from an existing web platform into Salesforce, so our business has been running on a normal Production org for a couple years.
I know LMA can autocreate leads and also allow you to manage the licenses and even log into customer/subscriber orgs to do some debugging. Ideally, it seems that having the LMA on our normal Production org would be the best option - it allows us to gain insight and provide support all from one Salesforce instance, rather than having to always login to the PBO to do anything with the actual licensing.
Is it a good idea to install and manage LMA from our Production org rather than from the PBO?
What are some gotcha's or complications that could arise from installing it directly in the Production org?