Migrating from Mac Photos app

Hello,

I would like to move from the Mac Photos app to Adobe Photoshop Elements. What I would also like to do is migrate the source of all our family photos away from 'photos.library' to my NAS. Thus making all the photos easily accessible/backup etc.

1. I was planning to moving the 'Masters' folder, on my Mac (within the photos.library package) to the NAS.
2. Creating the Photoshop catalog on my Mac, but point the source of photos to be my NAS.
3. I would then continue as normal, including the an import folder, on the NAS, so that everything will be there.
4. I would then have other computers setup in the same way, watching the NAS for changes.

My questions are:

• Is this the right approach?
• Should I also keep the Photoshop Elements catalog metadata files, etc, on the NAS too?
• Would storing the photos, all of them, on the NAS work? Does this slow anything down?

Thank you in advance.