Lyric discussion by janetsp 

Cover art for The Modern Leper lyrics by Frightened Rabbit

i think that this song is just about being in love with someone that isnt good for you for whatever reason. we're all guilty of this. for example me and my on/off boyfriend go round in this cycle when you forget the other person's faults and fall for them time and time again and end up getting hurt -hence the 'masochist' theme.

build you up then drag you down this song helps me a lot.

My Interpretation

Yep, that's how I see it too.