Flip to rental tax question

[Dave List]

I've been flipping property for a few years reporting the gains on IRS Schedule C. I have one property that I purchased in 2016 that I decided to convert to a rental in 2017. So it's listed as inventory on my 2016 Schedule C. Going forward I assume I will report the rental income on Schedule E. So hoping someone can tell me how to remove it as inventory on Sch C. Can I just report a lower inventory and for the explanation say that it was converted to a rental property? Thanks