I would NEVER sell or install a 'vent free' fireplace in anyone's home, no matter what. There are too many negative issues related to VF fireplaces. Some states do not allow the use of them (at least that was the case a couple years ago).
Of the Mfg's that offer vent free products, they STRONGLY advise the retailers (I've been to the dealers meetings) to "educate your customers" who might buy VF products. There is a serious risk - especially for elderly and infants and shut-ins.
So what if the original purchaser of the VF sells his home? The unsuspecting new home buyers (victims of the "acceptible levels" of carbon monoxide) may actually try to heat their home in the winter with the windows actually shut! (who wouldn't?)
MOLD is the next big problem to contend with if you want to live with a VF fireplace. Burning propane gives off water vapor! Lots of it! (Thats why the HVAC installers of gas furnaces must plumb the unit to the ground to discharge the water).
Indoor air quality seems to be such an important topic in new construction. I can't understand anyone tollerating the CO2 and water vapor.
Also, what if the FP gets 'out of adjustment'? The sooting I have seen with gas fireplaces which have either been altered by owner, or installed improper, or faulty parts, or,... Black soot associated with a direct vent FP is at least confined to the inside of the fireplace. A VF FP will put black soot all over your ceilings and walls (slowly, gradually, so that it goes unnnoticed until serious damage already occurs before you can do anything about it.
"Vent free fireplaces are fine, if you don't mind living inside a chimney". Thats what I tell my customers to get them to re-think their ideas on VF.
If you Google "vent free fireplaces indoor air quality" you will likely find arguements supporting both sides of the issue. However, just because some people report having no problems "so far" Many people have had LOTs of problems.
Maybe I'm comeing off as a biased, one sided jerk, but I refuse to sell a vent free to one of my customers as I do not want to be connected to the inevitable problems that will likely come up. Even though it may be tempting to cash in on some extra sales, not worth it!
As others have stated, vent free is a safe way to vent the 'combustion by products' to the exterior of your home, as well as provide the combustion air for the fireplace.
Good luck with the project!
Mark