Limited Photo Library in iCloud

My wife and I have about 3TB of photo's. Naturally we do not want this entire library in iCloud yet we would like to have some photos in iCloud and synced to our Mac's, iPhones and iPads. We would also like any new photos taken with our iPad or iPhone to sync to iCloud and to our Mac's and IOS devices. After reviewing and editing, we would like to remove specific photos from iCloud and have them stored in another folder on our Mac's.

How do I control / manage which photos are stored in iCloud and therefore on each of my synced devices, yet still retain all of my photo library on my Mac?

Thanks for any help.

Adrian