There are two other ways of doing that. One is using 3D cutting planes and the other is to select all in the 3D model space, assign them as targets in Solid Element Operations (SEO) and use a large slab or other object as the operator and cut the model.
Here's an example of the SEO trick using a sphere from the basic objects folder.
Also like to point out another trick I just recently started to use is I have a set of transparent/translucent materials I assign for walls and floors. You can look in the pic and see through the walls and see the solid objects like the beams and LVLs that are inside of the floor. Makes it really easy to see things lining up in 3D. One thing is if anyone wants to use that trick is I found it's necessary to assign a texture to the floor material so it's easier to distinguish the floor from the walls rather than using a solid color.