I tried to ask for clarification via Comment, but I don't yet have enough Reputation Points. So I'll give an answer that includes some assumptions about what you're asking (and maybe about what you're 'really asking').
You should consider that Brad M in his comments is asking what I view as an important question. Part of the reason I believe this is that the way you've structured your Entity Class, you seem to be 'instructing' (via Convention, not Configuration) EF to treat RelatedItemID as a Foreign Key, which would make me question whether it's true that you "don't need the Foreign Key"
So the 'quick and easy answer' is that you could restructure the class so that you won't be 'instructing EF via Convention to generate a Foreign Key' (like renaming the RelatedItemId attribute). Or you might be able to use one of the 'Configuration' methods to override this (for instance, Fluent API); I'm less sure of this.
Bear in mind that doing so means you'll lose any of the benefits of Foreign Keys in the instances where your RelatedItemId 'points to' a RelatedItem that does exist in the data store. That might be fine for you; but if it isn't, you'd probably need to reconsider (in light of Brad M's comment) what you're trying to accomplish and how, perhaps post further questions, etc.
RelatedItemshould bevirtual.