This sort of baffles me. I can't think of something the horse does that I label "I can live with". Maybe I'm misinterpreting (I usually do), but "I can live with it" sounds kind of sucky. And I really don't want to live with that. I prefer a horse that if he's capable (age, health, conformation), he does what he's asked (almost every time) and at the same time, the performance looks like something the horse wants to be doing it.
And the connection you build with the horse shoots up a level when the horse realizes, that your standards are now what the horse needs to meet. Meeting your standards are what the horse "can live with". And he'll be happy to live with them.
The old school horse I mention as being worth his weight in gold, in my previous post, is one with issues you 'can live with'. He may have arthritis, there are supplements and injections to help with that, it's a 'livable' item. He may be cranky because he's tired of kids or brand new beginners hanging on his face, he'll get happier with only one owner (most of the time), it's a 'livable' item. He may not be your favorite color. He may be a little hard mouthed, this you can usually fix with time and gentle handling. None of these are deal breakers. A horse that bites, bucks, rears, kicks, has a MAJOR conformation fault that will be affected by what you want to do with him, these are all deal breaker items for me. I would walk away from any horse with these habits, especially if the horse is older and it's become ingrained. Those would be 'non-livable' items.
There's no such thing as the perfect horse, any more than there is a perfect human. We all have some kind of 'issue' for lack of a better word. We're too short, too fat, too thin, too tall, too .....something, but there's somebody out there that will love us anyway. Same with horses. My favorite color in the world is Chestnut with a lot of white. I have exactly 3 chestnut horses. The rest are bay, bay tobiano, buckskin, palomino, cremello, .... you get the drift. And 1 of those 3 chestnuts may not grow up to be something I want to keep. I bred her, I love her, she's beautiful but she's a bit hotter than I want to deal with right now. I don't know if she'll ever turn into the horse I want, but I'll give her time and training and we'll see. Right now, all her 'faults' are 'livable' items. When she's 4 or 5, if she hasn't become a LOT more level headed, I'll sell her.