Thanks for the reply!
I am 28 now and I do have a valid US visa.
I understand that being 28, the removed as minor argument holds lesser weight. But do you think that the fact that IRCC has been issuing my family Tourist Visas, Study Permits and Work Permits since I was around 20 yo, without telling them that we still have our PR status will make my argument stronger?
It has nothing to do with H&C argument. I heard of people (EU citizens, mostly) who traveled to Canada as tourists 20 years after leaving Canada as PRs. They traveled as tourists and left Canada as tourists. They had no idea they still were PRs. Some came to find out in the course of applying for benefit (such as yourself). You could make strong argument against charge of misrepresentation, if you traveled and presented yourself to Canada while unaware of your PR status and
Orwellian Triple Hermetic Secret Worshippers decided to play misrepresentation card (and those facts you cited, about your family being issued TRV, would further support your claim) , but IMHO it has zero/nada/zilch connection to H&C grounds. If it does, let others chime in (who knows, there might be a case law/decision where some Judge decided that it has, and I am not aware of it).
Also, is there a chance the officer at the border will let me in without reporting me for removal?
Yes, there is. But ever since 911 we on Western hemisphere no longer have civilized society, with gentle governments that treat citizens and a common man with dignity and respect owed to people by their elected officials and executives. If Osama Bin Laden aimed at destroying Western way of life, then he certainly succeeded in accomplishing his goal. This is especially true for Canada (I have heard a lot of horror stories about US border agents since 911, but having crossed US border
many times I have never been mistreated by US federal officers. if it ever happens, I will make sure to report it).
As a result of post 911
Orwellian Triple Hermetic changes, these watchdogs treat the random travelers as vicious and vile predator in jungle would treat the unsuspecting prey, and they are prone to commit all kinds of the abuses and overstep boundaries of their authority. It's really a toss of dice how you will fare at the Canadian border. With me,
they kept sending me to secondary inspection and grilling me on my residency when I traveled to Canada by land (mind you, I had no way of being in breach of RO, I was a brand new PR then). So, if it was me traveling by land, I would certainly be reported. But there are other people who report easily passing the same border, some with over a decade of breach of RO, and not being reported at all. So, it all depends. I think being utterly incompetent and incapable of stopping real criminals and terrorists, they use some thickskulled criteria to target and profile certain visitors (for instance, if you are not dark-dark skinned, don't look like historically discriminated and now protected minorities, are not a member of LGBT, are not a female and etc. it's a safe bet to grossly abuse you without any repercussions. "I did this for security purposes!", will a liar with the badge say, and everyone will agree with him).
In short, you never know. You may sail without any issues, or (worst come to worse) you may get reported. If you are reported, that's not the end of the world. Just timely appeal it and make your case before IAD. If you have strong H&C grounds they may allow you to retain your PR status.
The worst part is, that I have to make my decision in 2 days. What would you suggest? Renouncing my PR for the study permit or giving my PR status a shot through one of these routes?
You are PR. You can still travel to Canada as PR. You are entitled to be admitted to Canada as PR. You can go and study there as PR. Even if you are reported, you are still going to remain PR , with all benefits and privileges of PR, as long as your case is not decided by IAD. Which may take a year or two. Or you can apply to renounce PR, apply for new TRV, wait for it to be processed and then go to Canada.
You have to make up your own mind. I see no practical advantage of renouncing PR. I personally would fight for it and then, if ordered deported, self-deport and apply for TRV in future. You can do what you want.
NOTE: Keep a close watch on the outcome of TRV application. If it is simply denied then you are fine. But if it triggers the process of stripping you of PR status, you may no longer be a PR by the time you reach Canadian border. We are a bunch of laymen here talking about neurosurgery, not a good idea to rely on us if you ask for anything other than the simplest of questions. When in doubt and need of advise arising from complex situation, it's always wise to consult licensed immigration attorney (not consultant!). Good luck.