So I found a method to solve this but its probably not ideal. What I do now is whenever I need to have a bunch of icons for my hud I spawn a bunch of icon creation blueprints under the world hidden in a black box. After spawning this I feed the correct information so that it displays the correct art then I take a snapshot of it. The advantage to this is that it always works perfectly every time even when the items are player created or randomly generated. This method also gives the advantage that at any time you can switch the rendering to real time then enable the graphics to slowly rotate or move in some way.
The only catch is that it means a lot of extra blueprints being spawned in the world and its kind of a pain in the butt to setup initially. Otherwise it seems to be a super down and dirty method to get this done.