In a large skillet, heat over medium-high heat and add the lean ground beef. Break it apart and cook for 5-7 minutes, stirring frequently, until browned and no longer pink. Pour in 2 tablespoons of soy sauce and 1 tablespoon of hoisin sauce, mixing well to combine the flavors. Cook for an additional 2 minutes until everything is heated through and fragrant.

Stir in 1 cup of shredded carrots and 1 cup of chopped bell peppers into the beef mixture. Cook for another 2-3 minutes, just until the vegetables are tender yet still crisp.

Fill a shallow dish or pie plate with warm water. One at a time, dip each rice paper wrapper into the water for about 15-20 seconds, or until it becomes soft and pliable. Carefully remove it and lay it flat on a clean surface.

Place a few fresh basil leaves and a generous tablespoon of the beef and vegetable mixture in the center of the rice paper wrapper. Fold the sides in over the filling, then gently but tightly roll it away from you.

Once all your Thai Basil Beef Rolls are assembled, arrange them on a serving platter and serve immediately with your choice of dipping sauce.