Maya LT is perfect for asset creation for a game engine…but, it doesn’t have a built in rendering…(why need, you have Unreal) nor can you add additional python components. Check out their web site…
Also, check out Houdini…they have made great progress in terms of 3d asset creation with h16 and they have a GREAT plugin for Unreal… if you do procedural level building, H16 should be considered.
teak