You can save individual tracks as files simply by dragging the track into the file browser.
I have always wished that Ableton had a way to disable and hide tracks, so I’ve been using this as a way to give Ableton pseudo-functionality for rendering down tracks to audio and disabling the original processing. Having everything rendered to audio is great for project archival, or transferring the session between computers.
I just go to the “Current Project” location, create a “Disabled Tracks” folder, drag the original processing track to that location, and delete it from the project. Getting it back is as simple as dragging it back from that folder into the track view. Using this location ensures that the “disabled” tracks are always getting transferred with the project.
This is also so worthwhile for building out your own library of processes and instruments for your large projects. You’ll notice in my sidebar the location “Ableton Track Templates”. Jumpstart your work by having custom project instruments, or templates for sound design, without having to rely on someone else’s sound.