How do you think AB-968 will impact the overall fix and flip market in California?

The shorter the prepayment term has an impact on increasing the rate.4.

Hotels typically do this for cost savings, but they also may do this to prevent guests from setting temps that could impact others on a floor or adajacent room (my assumptions). 

This may impact the opportunity for winter STR there so take that into consideration.

The housing market here tends to be significantly more expensive compared to other regions, and this definitely impacts renovation costs as well.Given that the home I am considering is around 3000 sq ft, the $250,000 renovation budget might seem more reasonable, especially in CA.

For the most part, it's probably pretty close to a wash in the short run, but your long-run plans will have more impact.

I know Colorado has been expediting a lot of climate related issues which is impacting home insurance coverage, so maybe just make sure to research that extensively before buying there.

Economic Factors: How do you think  economic conditions will impact our market?

I'm also concerned about possibly a down trending Market approaching negatively impacting the resale value on this flip.

You should compensate them for the total impact of your choice not just the hard costs.