my shallow theory was always that this was about Christine needing to sort out her visa or green card or whatever immigration papers. back in 2011 when we first heard the song, i thought of Christine because
1) the song sounded so Christine-like
2) he pronounces the words like English person would (ie "round" the corner), and uses english phrases such as "give you a frown" - so it must be about someone English.
almost like she's waiting for him to sort out her papers. does not make much sense, but there it is anyway. and once i heard she liked the song and it's coming back, plus that she really did "burn her bridges" and had her green card expire and is having to redo it all now, it kinda brought all those thoughts back.
why sleeping - basically "i'm staying here around the corner waiting for you".