Okay so it took me a little longer than I thought it would; Apologies on that one 
I actually made a mistake in the previous method. Logically it will not work because that actor has been destroyed and no logic can be pulled from a destroyed actor. BUT keep the item data structure and workflow for creating in game items because having that item data and parent-child relationship between master items and actual items is very important for an inventory system and you will need them later!
I will post the new method below and try to explain why this way is needed to save destroyed actors.