Hey ,
I finally managed to get it to work. I figured out that I needed to do the following steps:
CAMERA
1> Create a new SceneCapture2D: Models > All Classes > Scene Capture 2D > drag drop in view port where needed
2> Create Render Target: Content > R-click in Filter section > Create Advanced Asset > Materials & Textures > select Render Target > rename the NewTextureRenderRaget2D > Place as Texture Target for SceneCapture2D
MIRROR
3> Create mirror surface form Static Mesh
4> Create NewRenderTarget_Mat for mirror: R-click on NewTextureRenderRaget2D you just created > Create Material (creates a new material using this texture) > rename (very important, will not work without this step) > Place as Element 0 in the mirror material section
The reason I kept getting the wrong result is because I tried duplicating materials or create instances from existing materials and simply renamed them. When I finally figured out step 4 is when I had my correct mirror reflections.
Minor detail for the UE4 pro’s but major detail when you are just starting out.
Thanks for the setup ,
As you can see from the image I still have some tweaking to do but now I can move on to the next hurdle 
I might just have to move onto a cave environment, Unreal seems to excel in those:)
