Good Morning Trainsimmer07
There is no hard limit to the poly count on a model for Trainz, however there's a few things that may limit you.
First is that Trainz, as with most games, has got a 'cap' on how much can be shown in a scene at any one time. This is about 1,000,000 triangles in TS12, but this does vary depending on computer to some degree.
Beyond this, there's a 'variable' limit on the number of triangles on each material of around 20,000 triangles, but this is not a hard limit. A 'simple' solution is to have two materials (referencing the same texture files) with some of the triangles using the second material.
However, to ensure that you still get good performance in Trainz, all objects really should have LOD (some very low poly/triangle objects can live without it mind). This is becomes more important the more triangles your model has. So a 10,000 triangle locomotive has less need of LOD (although it should still have it) than a 50,000 or 75,000 triangle locomotive.
LOD is used to remove triangles/detail as you move away. If everything had LOD (or more, efficient LOD's), then you'd be able to have a lot more detail up close for around the same performance.
Regards