Recs.
Updated
Blender is a free and open source 3D animation suite. It supports the entirety of the 3D pipeline—modeling, rigging, animation, simulation, rendering, compositing and motion tracking, even video editing and game creation. Advanced users employ Blender’s API for Python scripting to customize the application and write specialized tools; often these are included in Blender’s future releases. Blender is well suited to individuals and small studios who benefit from its unified pipeline and responsive development process. Examples from many Blender-based projects are available in the showcase.
SpecsUpdate
Pros

Pro It has sculpting and 3D painting features
Although blenders 3d painting and sculpting tools (mostly painting) are not at par with specialized software like Substance painter, z brush, or mari; it is more than capable of getting most jobs done if the user takes the time to learn and understand it.
Pro Has a good rendering engine
Blender runs the Cycles path tracing engine under the hood. Cycles is a very powerful rendering engine capable of full path tracing (light fall off, caustics, volumetrics). It is mostly compatible with OpenCL and CUDA rendering, and is implementing mycropolygon displacement features.

Pro Game engine incoporated
The Blender Game Engine, a sub-project, offers interactivity features such as collision detection, dynamics engine, and programmable logic. It also allows the creation of stand-alone, real-time applications ranging from architectural visualization to video game construction.
Pro Very useful for a freelancer
It offers a round solution (it covers many areas and professional fields) for a freelancer, for free, constantly updated, very polished, and allowing high quality results that clients do require. After some learning, it becomes very useful for professional work.
Cons
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