N305JDPiper PA 46-350P

The pilot reported that he and his instructor were practicing a simulated engine-out approach and landing. While on the base leg to the runway, the landing gear was extended, and one notch of flaps were added. After turning onto final, the descent rate “seemed to increase,” and the flight instructor advanced the power lever, however the airplane was too low and impacted swampy terrain about 1,000 ft short of the runway before engine power increased, which resulted in substantial damage to both wings and the fuselage. The pilot reported that there were no preimpact mechanical malfunctions or anomalies that would have precluded normal operation.