Nevermore farms quickly and comes into the game early on with high damage. He is a squishy hero with no built in escape or shield. Hero takes a bit of skill to play which I won't go into here. Rather we will discuss some ideas regarding item choices.
Previously Manta Style was a typical SF item. Since lothar's has been changed, it's mostly fallen by the wayside.
Start with: Bottle, Wraith Band, Wand, Treads, Lothars
I don't recommend Ring of Aquila. You have a bottle, this hero really doesn't have mana issues if you manage it and we want to be greedier with our build. Finishing Aquila from Wraith Band doesn't add to our stats.
I don't recommend Drums. If the game isn't going well we could maybe use an item slot on bracer (following the principle of filling up our slots with small items), but Drums is too expensive for this hero. We don't really have movement speed, attack speed or mana issues.
After Lothars we have options. Against a nuke heavy team (SF is very vulnerable to disables and nukes), we go the traditional BKB. Otherwise we can skip it.
Now, as this hero already has damage, and we've already got attack speed, etc., there are different item paths available.
Against tanks such as Spectre, Axe, Bristleback, Dark Seer, we can get Helm of the Dominator (and later Satanic) for lifesteal. We will not be burst down and sustain is the best option. We can add a Skadi later.
Against a hero like N'aix, lifesteal would be mistake and we get a desolator instead (following up with more damage or butterfly. There can be no other orbs after a desolator). Desolator is also the best item for tearing through the enemy team quickly.
If we didn't go BKB and we are against Orchid carriers, Manta is a fine option.
Traditionally, Butterfly is a requisite item and purists will scoff if you skip it. However, mathematically we already have a lot of attack speed and I only get it against hard carries like Anti-mage, Luna, etc.