whats the general workflow of sound design for a video game? Would i have to record my own sounds or would stock sounds be alright? Is there a specific software i should use when mixing to make it a better fit for unreal? Just some random questions but overall i guess i just want to know the general process. Thanks for the help and advance and the more detailed the better as i’m still quite new 
If you only have a small Dev Team, then you probably only have to record dialogue and unique audio. There are plenty of good sound effects on the internet; choose what works for you. As for software, I recommend Audacity (a DAW), and/or WWise.
Sound effect libraries are perfectly fine! Even pros use them, although generally they will cut out bits and pieces of the library sound effects and assemble them together into something new.
As for tools, use whatever you like. If you have nothing right now, you could do worse than Adobe Audition, but anything that can edit the waves will do in a pinch!
In general, you’ll want to use as clean and well EQ-ed and level matched source sounds as possible as input, and then do the actual assembling-of-pieces, and adding-of-effects, inside the engine, to get sufficient variation and game/designer control. Rather than having a revolver gunshot with cocking/firing/reverb all baked into the sound, you’d want a few samples of cocking, a few samples of firing, and then send the output to a procedural reverb node in the game. That way, you can subtly change the tone and timing of the cocking-firing action using random nodes (or attributes like “weapon quality” or whatever,) and you can make sure you get a different reverb environment in a cave, in a small room, or in a desert.
There are some reasonable Unreal sound effect tutorials on YouTube, so you could peruse a few of them to get a feel for how different people work with it, and what the engine is capable of doing.