Can use it once a short period
Can spam it anytime
Can use it once a long period
Will get blind forever on that eye
Re: allows rinnegan you to multiple use of izanagi?
If I remember correctly after tobi used Izanagi against Konan , he said one will go blind after using a forbidden jutsu , however If he or she has both uchiha and hashirama blood those jutsus can be used without going blind ... so as all of u know madara took out rinnegan after getting hashirama flesh from senju hashirama , I think it means they wont go blind by using Izanagi or Izanami . It's in Manga chapter 510 u can go check it out .