Melt butter in a small saucepan over medium heat. Add softened cream cheese and heavy whipping cream, whisking constantly until completely smooth. Stir in shredded cheddar until fully melted and glossy. Reduce heat to low to keep warm. If the sauce tightens up, add a splash of cream and whisk together.

In a skillet over medium-high heat, cook ground beef for 5 to 7 minutes, breaking it apart until fully browned with no pink remaining. Drain excess fat. Stir in taco seasoning and simmer for 5 minutes until fragrant. Remove from heat.

In another skillet, heat a thin drizzle of olive oil over medium heat. Fry each low-carb tortilla for 1 to 2 minutes per side until lightly golden and crisp. Reserve one full-size tortilla per wrap and cut smaller crispy pieces for the center crunch layer. Drain on paper towels.

Lay one large crisped tortilla flat. Spoon seasoned beef into the center, leaving 2 inches of border around the edges. Pour warm cheese sauce generously over the beef. Place a smaller crispy tortilla piece on top. Spread sour cream over it, then layer shredded lettuce, diced tomato, and extra cheddar.

Fold the edges of the outer tortilla up and over the filling, working around the circumference to create a fully sealed bundle. Press firmly. Heat the skillet with a drizzle of olive oil over medium heat. Place seam-side down and cook for 3 to 4 minutes until deep golden. Flip carefully with a wide spatula and cook the second side for another 3 to 4 minutes.

Remove from skillet and rest for 1 minute. Cut in half and top with fresh cilantro and jalapeño slices if desired. Serve warm immediately.