Remote factory reset and changing Google password In case I ever lose my Nexus 4 phone, I've opened to the Google Settings app, then tapped "Android Device Manager" and from there, I've enabled both "Remotely locate this device" and "Allow remote factory reset."

Then I can use Android Device Manager online from anywhere to ring or reset the phone.

My question is: in the event my phone is stolen/lost, I'd probably change my Google password so the phone can't sync any more while I attempt to find it. If I change my Google password and then reset my phone after that, will the remote wipe still work since the Google password changed?

Note: I have 2-factor auth enabled, but keep in mind my phone and the apps in it are already authenticated.
Why not for sake of it, activate 2-step authentication on your Google account?
And just use the random generated password instead, be sure you have enabled Google to SMS you for any login attempts on your Google account, and keep your real password hidden. That is what I use here, where-ever I log in, I get an SMS direct to me, asking to enter the verification code, no one else has it.
Also, it would be easier to just revoke it from your Google Account settings page, i.e. access denied.
I use a spare, crappy phone that I carry with me everywhere, zero chance of anyone trying to steal it, that receives the Google SMS notification, and yes, its a dumbphone :)
Edit
To clarify: Your account on the device is called a Application specific password. See the Revoke beside each application specific password.
In event of phone or should I say, device getting lost/stolen, its a matter of simply clicking on it. That is what I was referring to, in my case, I have the application called &quot;My smartphone google account signin&quot;, and if it gets lost, I click Revoke, even after factory reset, data is wiped cleanly for my peace of mind.
I still have my laptop as my authorized login, that is, I can use my real password on the laptop, everywhere else Google is accessed, is using the random generated password. And if I was to login on another computer using my real password, the verification code gets sent to my dumbphone which I check and use.