In a large skillet over medium heat, add the lean ground beef and cook for 5-7 minutes, breaking it apart as it browns. Stir in soy sauce and hoisin sauce, and let simmer until well combined and the beef is fully cooked. Remove from heat and set aside.

With the beef mixture off the heat, fold in the shredded carrots and chopped bell peppers into the skillet. Cook for an additional 2-3 minutes to soften vegetables slightly while retaining color and crispness.

Prepare a shallow dish filled with warm water for soaking the rice paper wrappers. Dip each wrapper in the water for about 10-15 seconds, or until soft and pliable. Lay flat on a clean surface.

On each rice paper wrapper, place a fresh basil leaf at the center, followed by a generous spoonful of the beef and vegetable mixture. Fold the sides over the filling and roll tightly from the bottom, tucking in the sides as you go. Repeat for all wrappers.

Arrange assembled Thai Basil Beef Rolls on a serving platter. Best served immediately with your choice of dipping sauce.