I have to say my spiny senses really started tingling when I saw this
I was able to maintain about 300 feet and minimum flying speed with the engine alternately surging and quitting.
300 ft AGL with just enough power to maintain "minimum flying speed" and the pilot executes an approximately 225 deg turn to get back to the runway and then a turn back to line up
I think this pilot was very lucky that he made it. He was IMO one extra engine stumble from loosing flying speed
while executing a level skidding turn . Stalling in this configuration will cause an instant spin entry and ground contact at a steep nose down pitch attitude and heavily banked. This combination is almost invariably fatal.
There was a study done by an Embry Riddle researcher who looked at the relationship between aircraft attitude at ground contact and fatalities. He looked at 10 years worth of US GA accident data. If the aircraft hit in control in a mostly wings level and level to moderate nose up attitude, only about 7 % had fatalities. This was for every kind of crash including , hitting bridges, buildings, trees water etc etc
However if the aircraft hit out of control and at a steep nose down attitude there was fatalities in 85 % of the accidents. In the unlikely event of a low altitude engine failure you are much more likely to hit in the in control level attitude then if you lose control in an attempted turn back.
The accident record is clear, turn backs are far more likely to end badly then just going straight ahead and incidentally hitting a house is very rarely fatal as the aircraft doesn't stop instantly, it has some small distance to decelerate which greatly reduces crash forces.
FWIW a steady 9 G deceleration from 60 to 0 takes about 25ft. At 9G there will be no injuries to anybody on the aircraft that is wearing a seat belt.
In the situation described I believe the safest course of action is to keep going straight and use any available power to help with the forced landing. If you were to decided to turn back I would suggest the safest course of action is to start a level medium banked turn back monitoring the airspeed. If at any time you can not maintain 1.3 Vs
immediately roll wings level and land straight ahead.