The certified private pilot conducted a preflight of his single-engine airplane prior to departing from a private airstrip. He stated that there was no water in the fuel when he sumped the wing tanks and the oil level was slightly below eight quarts. The pilot started the engine and taxied the airplane to the end of the runway, performed two separate engine run-ups and departed. Shortly after take off, at an altitude of 50 feet above the ground, the engine stopped producing power. The pilot was unable to maintain altitude and he made a forced landing on the remaining section of the runway. After the airplane touched down the pilot swerved to avoid contact with a parked airplane and subsequently ran into a ditch. Examination of the engine/airplane by a Federal Aviation Administration (FAA) inspector revealed there were no mechanical deficiencies that would have resulted in a loss of engine power. The airplane sustained substantial damage to the firewall and both wings.