In a medium saucepan, melt the butter over medium heat. Add cream cheese and heavy whipping cream. Whisk until smooth and combined. Gradually stir in shredded cheddar until fully melted and creamy. Set aside.

In a large skillet, heat over medium-high heat and add ground beef. Cook for 5-7 minutes until browned. Drain excess fat and add taco seasoning and a splash of water. Simmer for 2-3 minutes. Remove from heat.

Heat olive oil in a nonstick skillet over medium heat. Cook each tortilla for 1-2 minutes on each side until golden brown and crisp. Let cool on a paper towel.

Lay one crisp tortilla flat. Spoon beef mixture in the center, drizzle with cheese sauce, and add a smaller tortilla on top. Layer with sour cream, lettuce, diced tomatoes, and sprinkle more cheddar.

Fold edges of the larger tortilla over filling to create a pocket. Cook in a skillet seam-side down for 3-4 minutes until golden. Flip and repeat on the other side until golden brown.

Let rest for a minute, then cut each wrap in half. Garnish with cilantro and jalapeño slices if desired. Serve with dipping sauces.