In a large skillet over medium heat, add lean ground beef and cook for about 5-7 minutes, breaking it apart with a spatula, until browned and fully cooked. Stir in soy sauce and hoisin sauce, allowing the mixture to simmer for an additional 2 minutes, ensuring the beef is well-coated and flavorful.

Next, add shredded carrots and chopped bell peppers to the skillet with the beef mixture. Sauté for 2-3 minutes, just until the vegetables soften slightly but still retain their crunch.

Fill a shallow dish with warm water and dip one rice paper wrapper in for about 10-15 seconds until it becomes soft and pliable. Carefully remove it from the water, allowing excess water to drip off before laying it flat on a clean surface.

Place a few fresh basil leaves in the center of the rice paper, followed by a generous spoonful of the beef and vegetable mixture. Fold the bottom of the wrapper over the filling, then fold in the sides tightly, and roll upwards to enclose the mixture completely.

Once your Thai Basil Beef Rolls are all rolled up, serve them fresh alongside your choice of dipping sauce, like peanut sauce or sweet chili sauce.