Hello;
Your concern shouldn't be at the Software side but at the hardware side of your application.
Labview will only generate the amplitude values that will need to be output at a specific Update rate so the output waveform will have the desired frequency.
Since you will need a 250kHz sinewave, and the best picture is to have a hardware that can operate on a 10 times faster basis; you will need an output DAQ board that can update its channels at a 2,5 MHz rate.
My suggestion to you is to have a tour at www.ni.com/catalog, and start to investigate the possible DAQ solutions that NI has for that range of frequency, and do the feasibility study as far as budget and other issues.
Hope this helps.
Filipe A.
Applications Engineer
National Instruments