My Ursa Carry Guide.

I don't like the use of Vanguard, takes up a slot, the hp regeneration isn't required, and tranquil can be rushed early to make Vlads. So why more hp regen? Also, you're bringing out the same/less dps by maxing overpower before fury swipes, while eating up more mana. You only need level 3 overpower until level 10. And why not get enrage? Early on that's another 20-40% damage boost. out-dpsing maxed overpower.

Bash isn't an orb effect. The only time you can cancel your fury swipes is when you have both basher and any attack modifier with a chance (crit cleave etc)

Bash resets ursas orb atleast in original dota dunno if changed but I dont think basher is good for ursa

Yesterday I played 20+ games with Ursa with the one of the three each time (one with phase only, one with blink, one with blade) non with bkb though and this worked for me.

Vanguard gives you a good pool of HP, which works well with your ult. It's cheaper than Heart and far more effective early on.

Shadow Blade or Blink should be mentioned though, I agree.

Edit: I read it, but I'm saying it should be included in the build. Ursa isn't all that mobile, even with phase boots. It's not about being out of position, it's about getting into position and keeping a close distance with an enemy. With BKB they can still run from you. Shadow Blade you can get into position without them knowing, and with Blink it's pretty much instantaneous. I prefer Blade of the two.

Obviously you chose to read the item build and not my explanation.

To add:

Vanguard is a quick item to get and when you fed 15 minutes in and have Vanguard you're unstoppable.

No blink dagger or shadow blade? You don't need vanguard. Heart after initiation item.