The pilot reported that the purpose of the flight was to practice touch-and-go landings. During the takeoff portion of a touch-and-go, about midway down the runway, the engine lost power. The pilot initiated a gentle left turn towards a vacant taxiway to initiate a forced landing. The pilot landed hard just short of the taxiway. The left wing was wrinkled, and the nose wheel and left main landing gear collapsed. The pilot stated he had the incorrect fuel tank selected, and "the engine lost power due to fuel starvation." He also stated that prior to takeoff, one fuel tank had "little to no fuel" and "the other fuel tank was about half full." The pilot reported no mechanical anomalies with the engine or airframe prior to the accident.