You'll need to send it as html. Save your word doc as html and use that. For the images in your document you can either point to them via their absolute urls (publicly available via the internet).
Or you could use the LinkedResource
class.
With the LinkedResource class your images have to specify a cid in the source.
var inlineLogo = new LinkedResource("path/myfile.png");
inlineLogo.ContentId = Guid.NewGuid().ToString();
var imageHtmlFragment = string.Format("<img alt='My Logo' src='cid:{0}' style='width: 250px;height: 60px;'/>",inlineLogo.ContentId);
var newMail = new MailMessage();
var view = AlternateView.CreateAlternateViewFromString(imageHtmlFragment, null, "text/html");
view.LinkedResources.Add(inlineLogo);
newMail.AlternateViews.Add(view);