Welcome to the world of concealed carry. Reflect on your responsibilities and practice a lot and you'll be fine. You pose some good questions.
is it possible to carry in your waistband without buying a whole new wardrobe? If not what would you do? Ankle carry? Would the OB be kind enough to give me some CC holster suggestions?
I carry a number of guns IWB. It's most comfortable for me to have my IWB carry pants waist size about 1" larger than usual. My cc guns are pretty thin, all <1" in thickness. I don't know how the LCR will fit you for IWB carry, though. Only you can find that out.
As far as alternatives to IWB carry, I've never used ankle carry. I have a close friend who started out w/ it, but quickly stopped it; it was very uncomfortable for him.
I use IWB and pocket carry. Started out mostly tucking my shirts, but now mostly carry untucked. The LCR is small enough and light enough that pocket carry may work for you. It will depend on your pants and how comfortable it is to you. I have a Kel-Tec P3-AT that I fits nicely in all pockets except blue jeans. I have a Kel-Tec PF9 that I can pocket carry w/ most slacks and all cargo type pants.
As far as holsters, lots of folks like Kydex or Kydex/leather holsters for IWB use. Personally, I prefer leather. I can personally recommend the following holster makers: LINK
I use their rear pocket holster to cc my PF9 in the right front pocket.
I cc the P3-AT in a pocket holster from Woolfe Gun Leather. I use their "Lone Wolf-T" for a Commander 1911. LINK
I use a Remora Holster for IWB carry of an Officer 1911. It's very easy and fast to put it on. It's surprisingly effective. Mine is the non-tuckable version. I've always thought a Remora could do double duty for IWB and pocket carry, but haven't tried it for pocket carry.
Crossbreed, White Hat, Comp-Tac and a number of others are well respected w/ Kydex or hybrid holsters.
As already mentioned, get a good HOLSTER belt. For casual wear, I use Wilderness Instructor belts.
Good luck and let us know what you end up using.