[Nexus 4 General] NYZack:
This is the well-established way to flash factory images without waiting for the OTA, using a Windows computer.

You can have a custom recovery, but you must otherwise be stock.

Your bootloader must be unlocked.

You should not lose apps (except for non-stock system apps) or data, but don't hold me responsible if you do.

You will have to reload non-stock system apps like Xposed framework (in fact, I uninstalled the Xposed framework using the Xposed framework installer before starting this process).

This is a modification of the process explained here, which I have mostly cut-and-pasted:

http://xdaforums.com/nexus-4/general/flash-android-4-3-build-clean-flash-t2376681

(Credit to mc704.)

1. You must have ADB, fastboot, and USB drivers for the N4 on your PC. Not hard to find; the thread referenced above tells you one way to get them. Put adb.exe, fastboot.exe, AdbWinApi.dll, and AdbWinUsbApi.dll in a folder on your PC - let's call it C:\N4Update

2. Enable USB Debugging via Developer settings on your phone.

3. The Nexus 4 (mako) 4.4.3 image can be obtained from Google

Image Link: https://developers.google.com/android/nexus/images#occamktu84l

Step 1: Use 7zip or an equivalent compression program to extract the stock 4.4.3 image file that has extension .TGZ

Step 2: You should see a stock image file that has extension .TAR...extract this once again with 7zip (or equivalent) into C:\N4Update

Step 3: Plug your device into the PC (USB debugging should be enabled)

Step 4: Launch command prompt from C:\N4Update, or alternatively start a command prompt (start --> run --> "cmd") and cd to it (cd C:\N4Update)

Step 5: Verify that the PC is detecting your device by typing in command prompt "adb devices" (you should see a code representing your device, and then "device" following it); if not, recheck usb debugging, and unplug and replug the phone back into your PC

Step 6: Turn your N4 off and go into fastboot (bootloader) mode (hold power button + Volume Up & Down all together)

Step 7: Type in the command prompt each step one at a time and wait for it to complete (obviously, don't enter the quotation marks):

"fastboot flash bootloader bootloader-mako-makoz30d.img"

"fastboot reboot-bootloader"

"fastboot flash radio radio-mako-m9615a-cefwmazm-2.0.1701.02.img"

"fastboot reboot-bootloader"

"fastboot update image-occam-ktu84l.zip"

Step 8: At this point, your N4 will reboot. This will take some time as your apps are re-initialized, but it should be clear what's going on.

Step 9: You will now have 4.4.3. You will be unrooted and have stock recovery. If you want, you can stop here.

If you want to install the TWRP custom recovery and regain root:

Step 10: Download the new version of SuperSU onto the N4 from here: http://download.chainfire.eu/446/SuperSU/UPDATE-SuperSU-v1.99r3.zip

Step 11: Download TWRP onto your PC in C:\N4Update from here: http://techerrata.com/file/twrp2/mako/openrecovery-twrp-2.7.0.0-mako.img

Step 12: Boot N4 back into fastboot (bootloader) mode while connected to the PC.

Step 13: With the command prompt from Step 4 above, type "fastboot flash recovery openrecovery-twrp-2.7.0.0-mako.img"

Step 14: Boot from the bootloader into Recovery by pressing volume up to display "Recovery" and then the power button to select.

Step 15: Use TWRP to install the zip (SuperSU) file from Step 10 to regain root.

Step 16: Reboot system.

You should now have a rooted system, with all of your old apps and data (except for system apps, which need to be reinstalled), and the latest TWRP custom recovery.