Yes, I think he is saying something like 'I talk myself in[to love], I talk myself out [of love]. . . '
Frequently in songs like this, things like grammar, syntax, and idiom come second to the forcing of the words to fit the music, and making them rhyme and so on. They may sound OK when sung and in context, but they don't bear close scrutiny as writing.
Cross-posted
from http://forum.wordreference.com/showthread.php?t=2469812