Creating Material from RenderTarget

Hello! I am having a little trouble understanding how materials can be created and applied to meshes via code in UE4.
I have a AActor derived class containing the following:

  1. one static mesh component
  2. one SceneCaptureComponent2D
  3. one RenderTarget.

What I am trying to do is: position the SceneCaptureComponent2D somewhere in the scene, tie the RenderTarget to it, and with the RenderTarget create a material that can be applied to the mesh.
I’ve looked on the forums for a solve to this. I’ve read something about MaterialInterface, MaterialInstanceDynamic, etc. I tried to follow the answers but to no avail. Could someone tell me (baby steps) how this can be accomplished? Also, can anyone explain how to use MaterialInterface and MaterialInstanceDynamic and what do they have different from a simple Material?