Red Hat CloudForms adds the ability to create a template based on a Virtual Machine for RHV virtual machines. A procedure on how to do so must be added to the Managing Infrastructure and Inventory guide, likely at the end of the 'Virtual Machines' after the section on managing snapshots.
Assigning to Chris for review. Chris - should be a relatively straightforward piece of content on a new inventory action for VMs. You can see it in the new test appliance as well.