IIS7 Failed Request Tracing Not Writing Logs

Ran in to this today failed request tracing was enabled and showing up in the IIS Admin Console but no matter what I did the logs would not show up. It boils down to two different issues:

1. The folder you are sending the logs to must have permissions set the app pool writing to the folder must have full control or at least write permission to the folder.
   
2. And this is the gotcha, make sure you have the module in the applicationHost.config
   

   
   <globalmodules>
   ...
             <add name="FailedRequestsTracingModule" image="%windir%\System32\inetsrv\iisfreb.dll" precondition="bitness64"></add>
   ...
   </globalmodules>
   

   
   

Without that line in the config it will not log, there is nothing in the event log app log or www logs that will tell you its not there either.