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As an LLC member, you can put value into the business by lending the LLC money, or by contributing capital to the LLC. You can take dollars out by taking a repayment of the loan (plus interest), or by taking a distribution of profit. I'd think a simple loan document or contribution agreement would provide adequate paperwork.
I can't think of any "unforeseen issues" associated with the practice . . . except there may be times when the LLC should borrow as a business entity (even if the member has to personally guarantee it) instead of borrowing from the member directly -- simply to build credit in the business' name. Utilizing business credit cards or credit lines to cover those periods of "low funds" might also be an option that helps achieve the same end. Another possible reason to consider this option is that with a business loan from a third-party, the interest would be deductible -- but in effect it isn't when you're just paying it to yourself.
Hope this helps. Best wishes.