Does anyone here know

if there is a way for me to move the categories
http://www.national-real-estate-directory.com/real-estate-forum/forumdisplay.php?f=85
(50 states) to how it is here:
http://www.national-real-estate-directory.com/real-estate-forum/forumdisplay.php?f=61
with the Google adwords and the Google adsense subforums
(not visible from the home page but when clicking on "Google" )

Can I turn move those states into folders like that without losing any content?

do you mean make them subforums of another forum? If so, yes. You have to go into the forum manager, then each individual forum and choose what forum under "Parent Forum"