There's currently a bug. Gaining the portal ability in the first act causes some weird issues, namely it allows you to invest in Portal which seems uninended and also causes Izanami to link to what I can only assume is a later house you obtain in the story and replaces her quest with "Training"
Update: It does not lock you out but does block you from seeing the story hints. If you blindly bumble around it's possible to do the festival quest with her, though her character portrait unlocks after it (I assume) meaning her quest is totally blind until you unlock her card and interacting with her portal without investing a point in Portal and placing one somewhere within the city will cause a softlock - if you don't create an "anchor portal" back to the starting city, you're stuck in "future house"