Am I out of touch?
Am I out of my place?
When I keep saying that I'm looking for an empty space
The man is wondering if he is still the same person and he is realizing he is looking for someone else, even though he already has the perfect person to connect with
Oh, I'm wishing you're here
But I'm wishing you're gone
I can't have you and I'm only gonna do you wrong
He longs to be with that person, but is too nervous to interact, thinking he will hurt or them or lose their relationship
Oh, I'm gonna to mess this up
Oh, this is just my luck
Over and over and over again
In the meantime we let it go
At the roadside we used to know
We can let this drift away
Oh, we let this drift away
He knows he will mess up and push the person away, so he is staying away and they are drifting farther and farther apart
I'm sorry for everything
Oh, everything I've done
From the second that I was born it seems I had a loaded gun
And then I shot, shot, shot a hole through everything I loved
Oh, I shot, shot, shot a hole through every single thing that I loved
He is now trying to apologize for the way he has treated not only the person he has been referring to, but to everyone he wronged in his whole life. He said that when he was born, "it seems I had a loaded gun". This is a metaphor for him pushing everyone that was close to him away from him because of his actions, shooting a hole through them.
Am I out of luck?
Am I waiting to break?
When I keep saying that I'm looking for a way to escape
Running out of luck is saying that he believes that his actions are catching up to him and he is "waiting to break" or waiting to be proven wrong. He is also trying to make himself believe that there is a way to end his pain without being forgiven for his actions.
Oh, I'm wishing I had what I'd taken for granted
I can't help you when I'm only gonna do you wrong
He is now regretting that he let go and pushed away everything that he thought was going to stay with him and he doesn't want to push away someone else, so he does not want to help them in fear of losing them
Oh, love, can you hear me?
He is hoping that the person will listen to him and understand why he doesn't want to be with them
This entire song is about a man who is thinking about his past relationships with everyone in his life, regretting how he treated them, and is deciding he doesn't want to push away another person.