Handwraps of mighty blows or other items that have tiers
 

i want to be able to hand out a lvl 2 version of Handwraps of mighty blows an then when they get to a higher lvl give them the next tier up but the magic item on hero lab says it varies an they wont know which one they have

In HLO the handwraps are just a base item and then you add the appropriate Runes by editing the handwraps.

So for the level 2 handwraps just add the +1 Weapon Potency Rune. For the level 4 handwraps add both a +1 Weapon Potency Rune as well as a Striking Rune. etc.