Does a tankless, ventless (no exhaust vent pipe) water heater located on the exterior wall of a house have the same vent termination requirements as a regular exhaust vent? In other words the unit is about 2 feet below the soffit vent.
Brand and model would help to obtain manufacturer’s installation instructions for specifics.
As long as it’s not below, or within 3 feet of an openable window, it may be okay. The manufacturer set the requirements. . .