I don't know why no one has said this but in ORDER to use Izanagi, you ONLY need Uchiha DNA and Senju DNA. Otherwise DANZO wouldn't be able to use izanagi if the body he used in the fight with Sasuke was his own. But according to Narutopedia, Izanagi can be used by anyone witha sharingan but to use it at full power or best results, the user must have Senju DNA as well.
So Everyone here is kinda wrong on discussing that Madara uses Zetsu bodies and an Uchiha sharingan in order to use Izanagi.
With EMS if you spam all your techniques, you wont go blind, the only bad thing is chakra drain, if you use Izanagi, then you WILL have that eye become permanetly shut. No matter if you have Regular Sharingan, MS or EMS, Izanagi will close your eye for good.
And because of all the Zetsu stuff, Zetsu was made from Hashirama cells and Tailed Beast Chakra as well as possibly Madara Uchiha(white could be Hashirama cells and black could be Madara cells). But since Madara loses arms and stuff, he probably has DNA compatibility with Zetsu so that every lost limb can be repaired or replaced easily.