I wonder if it's possible to get lookup values (from another list) inside a multi-line column. I can have these values as a separate lookup column, but I'd like to embed them into text in a multi-line column. I'm using SharePoint as part of O365 - must be one of the most recent versions. Thanks in advance!
OOTB SharePoint doesnt provide such options, you can have tools / systems / dashboards as lookup columns in your Master List, these columns will be displayed as drop down fields in the Master List new/edit item add page.
In the Master List new/edit item page, you have to add java script functions inside script editor web part. On drop downs (tools / systems / dashboards) item change event, you can get the values selected from the drop downs, concatenate the values and put it into the required Multi Line Text field.